Toolots Inc. operates Foreign-Trade Zone (FTZ) #202 Site 53 in Cerritos, California within the Greater Los Angeles Metropolitan area of San Gabriel Valley. The FTZ Program was created in 1934 as part of Franklin D. Roosevelt’s “New Deal” Act, designed to stimulate economic development, promote international trade, and create U.S. jobs that would otherwise be lost to foreign competition.
FTZ #202 is a Customs privileged area within 60 miles of the seaport complex of the Ports of Los Angeles-Long Beach, where merchandise may be admitted for storage, manipulation, exhibition and manufacturing duty-free. Although the FTZ is physically located in Cerritos, California, it is legally considered to be outside the U.S. Customs Territory for import/export purposes.
Serving the nation’s busiest gateway to international trade, FTZ #202 offers manufacturers, importers, exporters, & logistics companies with direct access to the Port of Long Beach, the Port of Los Angeles, the Los Angeles International Airport, as well as the nation’s extensive rail and interstate freeway systems. FTZ #202 Site 53 currently consists of 1 General-Purpose Zone Site within the City of Cerritos comprising 100,000-sqare foot of FTZ Designated Space for General-Purpose Use.
FTZ #202 offers Zone Users the unique opportunity to interact with their merchandise prior to customs review, thus allowing greater control over shipments, minimizing risks and acting as an arena in which companies can conduct international trade. Within the FTZ, Merchandise may be stored, inspected, cleaned, sampled, repaired, tested, repaired, relabeled, repackaged, displayed, processed, mixed, salvaged, destroyed, assembled or otherwise manipulated duty-free! A special permit for manufacturing may be obtained for general-purpose zone users upon approval from the FTZ Board.
How can I benefit from Foreign-Trade Zone #202?
- Defer Duty on Imports;
- Reduce Duty on Imports Assembled, Processed, Manufactured &/or “kitted” in a Zone;
- Reduce Merchandise Processing Fees (MPF) on Imports under Weekly Entry procedures;
- Reduce Customs broker fees;
- Defer Harbor Maintenance Fees (HMF) on Imports through the seaport;
- Transportation Time Savings through Direct Delivery procedures;
- Eliminate Duty on Re-Exports;
- Federal Excise Tax Exemptions on U.S. Exports (Luxury Taxes);
- Avoid Quota Restrictions;
- Avoid Fines & Penalties;
- Ease of Paperwork & Quick Turnaround;
- Temporary Removal for Repair or Exhibition of Bonded Goods; &
- Avoid the need for Duty Drawback
Source: www.beeimagine.com FTZ