The New Jersey Legislature is considering a bipartisan bill (S355/A3710) that establishes a restricted beer, wine and cider license that would allow restaurants, for a small annual fee, to sell certain alcoholic beverages to their patrons. In an effort to counteract the diminution in value of already-owned liquor licenses, the proposed bill provides tax credit under corporate business tax and gross income tax for loss in value to certain alcoholic beverage licenses. Despite this tax credit, there is sure to be a significant decrease in the value of already-owned liquor licenses. This loss in value is likely to in turn diminish the value of the properties underlying those licenses.
Autonomous vehicles will bring big changes to New Jersey real estate
As far back as 1957, advertisements in the nation’s leading magazines promised that, “one day, your car may speed along an electric super-highway, its speed and steering automatically controlled by electronic devices embedded in the road.” In the 64 years since then, there has been tremendous technological progress that makes this vision on the brink of becoming reality.
