NJ S2419

Allows corporations, partnerships, limited partnerships, and LLCs organized in New Jersey to establish wagering accounts with horse racing and sports pool operators and place wagers through designated individuals

Requires business entities to provide detailed documentation to operators, including personal information (name, address, photo ID, SSN) for all equity owners, directors, officers, and designated individuals, plus formation documents and state filings

Mandates business entities maintain wagering records in New Jersey, use a New Jersey-based bank account for all wagering fund transfers, and make records available to the Casino Control Commission, Division of Gaming Enforcement, and Racing Commission

Prohibits distributing profits or wagering on behalf of undisclosed persons, and makes submitting false information unlawful

Establishes willful violations as second-degree crimes punishable by 5-10 years imprisonment and fines up to $50,000, with the bill taking effect 180 days after enactment