FOREIGN TRADE ZONE STATUS (FTZ)
Capitol Warehousing is delighted to announce that our facilities are now part of a federally approved foreign trade zone. This is the approved foreign trade zone (FTZ) number 266, which has been granted to Dane County, Wisconsin.
The key aspect of approved foreign trade zones is that they are considered to be outside of U.S. Customs Territory for the purpose of customs duty payment.
As a result, goods and materials entering an approved foreign trade zone, such as the one of which we are now a part, are not subject to customs tariffs until those goods and materials are shipped out of that zone and formally enter into U.S. Customs Territory.
Deferring such duty and tariff payments can be of significant aid to a variety of importers. Just one example would be importers of holiday and seasonal oriented merchandise, who can take advantage of shipping and storage to a foreign trade zone such as the one Capitol Warehousing now occupies to defer duty payments until that merchandise is ready to be sent out for sale.
In addition, goods and materials that are shipped to foreign countries from an approved foreign trade zone are exempt from duty payments. (This provision can be especially useful to firms that import components in order to manufacture finished products that are slated for export.
Foreign trade zone status now adds to the uniquely broad panoply of capabilities and services that Capitol Warehousing has to offer, which include dry storage, refrigerated storage, bulk handling, rail transloading services and third party logistics services.
Contact us today for more information on how you can benefit from Capitol's approved foreign trade zone status, or for information on any of our specialized handling capabilities.