statutory notice

statutory notice definition - business

statutory notice

Required notice of an intended action. For example, state law requires an employee be given a minimum period of notice of termination. Along other lines, following an audit, the Utah State Tax Commission sends the taxpayer a statutory notice unless full payment has been received after sending the preliminary notice. The statutory notice serves as a legal and binding assessment of the taxpayer's tax liability.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

Comments (1) Add Your Comment

you cannot say a statutory notice is legal and binding, when it is only an intended action| its contradicting itself

Posted by anonymous 79 days ago.

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