Nutley Store, Liquor License To Be Auctioned For Unpaid Taxes

The New Jersey Division of Taxation will offer a local property and liquor license for sale on Dec. 21.

According to a public notice, the property at 507 Franklin Avenue – formerly owned by Terrazza, Inc. - was seized for unpaid state taxes.

The property is assigned plenary retail consumption license # 0716-33-017-009.

The sale will be conducted at the New Jersey Division of Taxation’s Newark Regional Office at 11 a.m. on Dec. 21, with a minimum bid of $45,000.

According to the public auction notice:

“The successful bidder for the liquor license must submit a renewal application to the municipality and pay the fee by June 30, 2016, unless the municipality approves the transfer of the liquor license prior to July 1, 2016. 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… If the successful bidder makes proper application for the transfer and renewal of the license, passes the background check conducted by the municipality and the municipality denies the application, then the monies paid to the NJ Division of Taxation will be refunded.”