Articles Tagged with “New Jersey lottery licenses”

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lottery ticket.jpgThere are steps which must be followed in a timely manner to obtain a New Jersey Lottery License and have a smooth transition during the purchase of a business.

At least 45 days before closing, the seller of the New Jersey business must send a letter to the New Jersey Lottery district office. The addresses of the district offices can be found here. The letter must include information regarding the pending sale including the seller’s name, address, home phone number, cell phone number, and work phone number, as well as the buyer’s name, address, home phone number, work phones and cell phone number, and the anticipated closing date.

Upon receipt of that letter, a New Jersey lottery agent will contact the buyer and the seller, and they will be required to meet with the lottery representative . The buyer must bring the following to this meeting:

    1. Temporary tax certificate;
    2. New Jersey limited liability company number (or corporate number);
    3. Federal Tax Identification number;
    4. If a liquor license is also being transferred, the liquor license number
    and a copy of the transfer application;
    5. A money order for $100.00 payable to “NJ State Lottery;”
    6. The contact information for a least three people to be included on the application;
    7. All people listed on application must go to meeting;
    8. $18.00 money order for each of the people listed on application made payable to NJ State Police;
    9. The buyer must already have opened a “lottery bank account” under the new company’s such as “New Business, LLC, Special Lottery Account,” and the buyer must bring a check from the bank account
    10. The social security number and driver’s license for all people on application.

The Lottery Division will conduct a background check on all people listed on the application.
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