Consider the question. The Nathan's Hot Dog Eating Contest is an annual American hot dog competitive eating competition. It is held each year on Independence Day at Nathan's Famous Corporation's original, and best-known restaurant at the corner of Surf and Stillwell Avenues in Coney Island, a neighborhood of Brooklyn, New York City.

Answer this question based on the passage: when is nathan's hot dog eating contest?
What is the step-by-step reasoning process to arrive at the answer: on Independence Day?
The important part for answering this question is: It is held each year on Independence Day at Nathan's Famous Corporation's original, and best-known restaurant at the corner of Surf and Stillwell Avenues in Coney Island, a neighborhood of Brooklyn, New York City.