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New Jersey Division of Taxation
Public Auction of Seized Property

Under the authority granted in N.J.S.A. 54:49-13a and R.S. 33:1-26, the property to be sold was seized for unpaid State taxes due from:

KC'S Last Calls, Inc. t/a Tidal Wave Bar & Grill
470 River Styx Road
Hopatcong, NJ 07843


PROPERTY FOR SALE:

State of New Jersey, County of Sussex, Borough Hopatcong
Plenary Retail Consumption License #1912-33-004-008

LOCATION OF SALE:

New Jersey Division of Taxation
75 Veterans Memorial Drive East Suite 103
Somerville, NJ 08876

DATE AND TIME: CANCELLED

MINIMUM BID: $50,000.00

AUCTION TERMS & CONDITIONS FOR LIQUOR LICENSES

PAYMENT TERMS:

  • Successful bidders must make a minimum deposit of 25% of respective bid IMMEDIATELY following their successful bid. Failure to do so will result in forfeiture of the bid.
  • Payment must be in guaranteed funds such as cash, certified check, bank check or money order. No third party instruments will be accepted.
  • Balance, also in guaranteed funds, due by 12 noon on May 19, 2010 at the NJ Division of Taxation's Somerville Regional Office, 75 Veterans Memorial Drive East Suite 103 Somerville, New Jersey or deposit monies will be forfeited.
  • Make checks payable to:  New Jersey Division of Taxation
OTHER CONDITIONS:
  • This sale may be postponed or canceled at the discretion of the NJ Division of Taxation.
  • The NJ Division of Taxation reserves the right to receive or reject bids or bidders.
  • NJ Division of Taxation employees or any member of the employee’s immediate family may not participate in this public sale.
  • This liquor license is sold subject to any restriction imposed by the NJ Division of Alcoholic Beverage Control on this license as those set forth in N.J.A.C. 13:2-24 as well as any violations imposed by the municipality.
  • The successful bidder for the liquor license must submit a complete “good faith” transfer application to the municipality and pay the fee for the transfer of the license by June 7, 2010. Failure to do so will result in forfeiture of all monies paid to the NJ Division of Taxation for the license.
  • The successful bidder for the liquor license must submit a renewal application to the municipality and pay for the fee by June 30, 2010. Unless the municipality approves the transfer of the liquor license prior to July 1, 2010, failure to timely submit a renewal application will result in forfeiture of all monies paid to the NJ Division of Taxation for the license. The NJ Division of Taxation will assist with the renewal process at the request of the municipality. Any monies paid by the NJ Division of Taxation for the renewal of the liquor license will be reimbursed directly to the NJ Division of Taxation by the successful bidder.
  • If the successful bidder makes proper application for the transfer and renewal of the license, passes the background check conducted by the municipality follows all guidelines set by the municipality and the municipality denies the application, then the monies paid to the NJ Division of Taxation will be refunded.  The NJ Division of Taxation then has the right to go to the next highest bidder or re-auction the license.

FURTHER INFORMATION REGARDING THIS SALE MAY BE OBTAINED FROM:

Supervising Investigator Ronald Cavanaugh
(908-704-3351)


Regional Supervisor Kenneth Cowie (908-704-3350)
NJ Division of Taxation, 75 Veterans Memorial Drive Suite 103
Somerville, NJ 08876


Last Updated: Tuesday, 05/03/11



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