Making Importing and Exporting Easy
Monroe County Foreign Trade Zone #141 helps make importing and exporting easy and can save your company money.
In today's increasingly competitive environment, your business needs every possible advantage to succeed. That's why it makes sound business sense to consider conducting operations in Monroe County Foreign Trade Zone #141.
A foreign trade zone is a site within the United States designated by the Department of Commerce where foreign and domestic merchandise is considered to be in international commerce. Because a foreign trade zone is considered to be outside the Customs Territory of the U.S. foreign or domestic merchandise may enter this enclave without a formal Customs entry, or the payment of Customs duties or government excise taxes.
When a final product is exported from a foreign trade zone, no U.S. Customs duty or excise tax is levied. If, however, the final product is imported from the foreign trade zone into the U.S., Customs duty and excise taxes are due only at the time of formal entry into the U.S. The duty paid is the lower of that applicable to the product itself or its component parts. It's easy to see that a foreign trade zone provides opportunities for Customs duty savings. It also offers one of the most flexible methods of handling domestic and imported merchandise.
Monroe County Foreign Trade Zone #141 has designated one general purpose site that is available to the public. Supply Chain Services is located at 847 West Ave., Building 10, Rochester, NY 14611, (585) 436-6210.
Additionally, there are several manufactures that are designated as Foreign Trade Zones. While the benefits of seeking Foreign Trade Zone status for your business varies depending on factors such as what your company imports, how long you hold that imported good, and what you do with that good, the savings could be significant and are definitely worth investigating.
For more information about how Monroe County Foreign Trade Zone #141 can help your business with international trade, please contact 585 753-2000.