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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, the property to be sold was seized for unpaid State taxes due from:

RIVERSIDE LIQUORS & BAR, INC.
422 RIVER STREET
PATERSON, NJ 07514

PROPERTY FOR SALE:

State of New Jersey
County of PASSAIC, City of Paterson
Plenary Retail Distribution/Package Liquor License #1608-33-026-005

LOCATION OF SALE:

NJ DIVISION OF TAXATION
22-08 RTE. 208 S
FAIRLAWN, NJ 07410

DATE AND TIME: Cancelled

MINIMUM BID:   $ 20,000

AUCTION TERMS & CONDITIONS FOR LIQUOR LICENSES PAYMENT TERMS:

Successful bidders must make a minimum deposit of 25% of their 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 Wednesday, December 8, 2010 at the NJ Division of Taxation’s Fair Lawn Regional Office, 22-08 Route 208 South, Fair Lawn, New Jersey or deposit monies will be forfeited.
  • Checks must be made payable to:  New Jersey Division of Taxation
OTHER CONDITIONS:

This sale may be postponed or cancelled at the discretion of the NJ Division of Taxation.
  • NJ Division of Taxation employees or any member of the employee’s immediate family may not participate in this public sale.
  • The NJ Division of Taxation reserves the right to receive or reject bids or bidders.
  • 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.
  • 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 December 18, 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 December 18, 2010, Unless the municipality approves the transfer of the liquor license prior to December 18, 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 Joseph Latka (1-201-475-3607)
Regional Supervisor Kenneth Cowie (1-201-475-3043)
NJ Division of Taxation, 22-08 Route 208 South, Fair Lawn, New Jersey 07410



Last Updated: Tuesday, 05/03/11



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