What is a 'Tax Rate'. A tax rate is the percentage at which an individual or corporation is taxed. The tax rate is the tax imposed by the federal government and some states based on an individual's taxable income or a corporation's earnings. The United States uses a progressive tax rate system, where the percentage of tax increases as taxable income. Next Up.
Escheat is the reversion of property to a state when that property is lacking claimants or heirs. In the oil & gas industry, the property is usually an unclaimed oil and gas royalty or override payment.
(The escheated section will only appear if a check has been moved to the escheatment process during the reporting period.) As a result of this process, units will no longer report outstanding checks for escheatment to Church headquarters at the end of the year.