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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 from:

L T W Corp.
620 Bergen St.
Newark NJ 07108


PROPERTY FOR SALE:

State of New Jersey, County of Essex, City of Newark
Plenary Retail Distribution License # 0714-44-412-001

LOCATION OF SALE:

New Jersey Division of Taxation
Newark Regional Office
124 Halsey St., 2nd Floor
Newark NJ 07101


DATE AND TIME OF SALE: Tuesday, June 28, 2011 at 11:00 a.m.

MINIMUM BID: $25,000.00

PAYMENT TERMS:

  • Successful Bidder 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 June 29, 2011 at NJ Division of Taxation’s Newark Regional Office, 124 Halsey St., 2nd Floor, Newark, 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 member of the employees’ immediate family may not participate in auction.
  • 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 Wednesday, July 6, 2011. 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 the fee by July 6, 2011. 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:

Regional Supervisor Rande Schutsky
(973) 648-4422


Last Updated: Wednesday, 08/20/14



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