Located adjacent to Bradley International Airport, the Greater Hartford Foreign-Trade Zone (Foreign-Trade Zone 71) offers importers and exporters the advantages of operating in a site within the U.S. where foreign and domestic merchandise are considered as not being within the U.S. customs territory, but in international commerce. This means that foreign or domestic merchandise may enter the trade zone without a formal Customs entry and without payment of duties or excise taxes. .
Operating within a foreign-trade zone offers the following duty and tax relief:
- If the final product is exported from the U.S., U.S. Customs or excise tax is paid.
- If the final product is imported into the U.S., U.S. Customs duty and excise taxes are due at the time of transfer from the trade zone only on the product itself or its imported parts whichever is lower.
Locating your operation in a trade zone offers many advantages to manufacturers, processors, importers and exporters. In the Greater Hartford Foreign-Trade Zone, you can:
- Store goods free of duty, tax or bond.
- Avoid quotas when you manufacture, repackage, process, assemble, test, clean, repair and relabel goods for re-export.
- Apply the “Made in U.S.A.” label if the value added in the trade zone is over 50%
- Avoid duties and quotas on materials lost in the manufacturing process.
- Inspect goods and all papers, licenses and permits before paying duties.
Under the direction of CargoZone BDL, the greater Hartford Foreign-Trade Zone offers:
- Secure, fireproof warehousing
- Experienced Foreign-Trade Zone staff
- Foreign-Trade Zone subzone possibilities.
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