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|  Freeport/FTZ Description Sheet The freeport tax exemption cuts costs for manufacturing and distribution companies that are shipping products out of state. A freeport tax exemption allows businesses to pay no property tax on inventory that leaves the state within 175 days. TechRidge offers a triple freeport tax exemption, meaning that all three primary taxing jurisdictions — school, city and county — honor the inventory exemption. This is the highest level of inventory tax exemption available. Foreign trade zones (FTZs) help companies that use imports in their manufacturing or assembly process. In these federally designated areas, companies can bring products into the country “in bond” (before U.S. Customs inspection) and pay no duty until the product leaves the FTZ. This moves the duty payment closer to the date when the product is sold, allowing importers to retain the use of their money for longer periods of time. A federal program enacted in June 2000 allows importers to consolidate inventory entering an FTZ with one $485 merchandise processing fee per week. In the past, a fee was assessed per entry. For more information, please contact The Gottesman Company @ (512) 320-5579.
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