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So the short answer is that it's complicated. Long answer is (with the caveat that I'm not an attorney and we have one that guides our licensing board) that those are crimes of moral turpitude, which are considered when evaluating a new application or renewal. Per state law, the existence of a conviction isn't enough on its own to deny the license - the board has to consider things like length of time since the crime and the applicant's conduct since then. I genuinely have no idea what would happen if someone was in jail. I mean, I'm sure their license would be denied, I'm just not sure if they'd even be allowed to renew or maintain ownership in the first place. It's never come up. More than likely, they'd sell it or transfer ownership before it ever came to me.
I don't know NJ liquor laws, but if they're similar, I can see them saying sorry, the conviction was too recent and you've shown zero remorse, no license for you. That said, I have no idea if Trump, individually is considered an owner, or if the license is under a subsidiary company where everyone knows it's ultimately his, but he's not involved in any of the day to day, so the establishment can remain licensed. Frankly, it's not going to hurt him as much as the people who will lose their jobs if the license goes, but I'll be interested to see what happens.
Interesting, thanks for the info
I've learned a lot from your comments, much appreciated!