After a winner is formally issued the license, he or she may opt to sell it to another party. Quota licenses are in high demand in many counties, and Glover Law is available to help you sell your license. The firm helps clients identify potential buyers, negotiate sales prices, and arrange financing.
In the event that one obtains a quota license by drawing, one must pay an annual license fee and a one-time "activation" fee. Once the fees have been paid, a licensee can opt to use the license for their business or to sell it to another party.
Florida Law establishes a penalty for certain transfers of quota licenses, though the penalty and other transfer fees are usually built into the price paid by the buyer. If a license holder wishes to sell within 3 years of obtaining the license, there is a fee of 15 times the annual quota license fee ($27,300) plus an additional $5,000.
Feel free to contact us to discuss your options, before or after you enter or win the Lottery.