Requirements for Obtaining a Liquor License

This came across my desk the other day. I thought I'd post it for anyone else who might be interested. Once again, I am a business broker. If you or anyone you know is interested in getting in or out of business ownership, let me know.

Requirements for Obtaining a Liquor License

IF YOU ARE PURCHASING OR HAVE PURCHASED AN
EXISTING BUSINESS:
Contract of Sale between the existing licensee (as their license reads) AND the proposed licensee (as your license will read)

Contract must include
A dollar value for goodwill;
A dollar value for inventory (estimated)
A dollar value for trade name if same is being maintained
A dollar value for equipment unless this is being purchased with real property.

It is strongly suggested that your contract be subject to approval and issuance of a license by the Sate Liquor Authority

2 IF YOU ARE PURCHASING OR HAVE PURCHASED AN EXISTING BUSINESS:
A copy of the existing Liquor License

3. IF YOU ARE PURCHASING OR HAVE PURCHASED THE REAL PROPERTY:
Contract of Sale between the existing Deed Holder (as their deed reads) AND the proposed Deed Holder (as your deed will read).
Contract should include real estate value and a dollar value for equipment. It is sometimes prudent to make this contingent upon Issuance and Approval of a Liquor License by the State Liquor Authority. If already purchased please provide a copy of the deed, closing statement and mortgage.

NEED: RIGHT FOR THE APPLICANT TO OCCUPY THE PREMISES

IF YOU ARE LEASING THE REAL PROPERTY: OR:
IF THE DEED HOLDER AND LICENSEE ARE NOT THE SAME ENTITY:
Fully executed lease (Equal to the term of the license) between the Landlord (Deed Holder) and Proposed Tenant.

Specific lease dates are required however it is also advisable for the lease to subject to Approval and
Issuance of a license by the NY State Liquor Authority