Foreign Trade Zone Operations
Local Regional National
Premier Logistics assets consist of late model dry vans, flat beds, and liftgates. These truckload options fulfill client specifications on each load tendered to the company. Premier Logistics supports full truckload needs on a local, regional, and national scale.
Utilizing an FTZ
Premier Logistics has a Foreign Trade Zone (FTZ) on site in Tulsa, Oklahoma. As the Importer of Record, you can import numerous types of merchandise via formal customs entry before the actual consumption or removal of imported goods are permissible. The Importer of Record has the choice to put an effective tariff on the goods when entered into the warehouse or to place effective tariff when the goods exit the FTZ. Importers are not required to post bonds on goods as long as they remain within the boundaries of the FTZ.
Storage & Taxation
Importers may store legal merchandise, domestic or foreign, in an FTZ warehouse. Merchandise that is brought in outside of the continental United States is not taxed upon entry. If that same international merchandise returns for export without leaving the FTZ, there is no tax or duty assessed. Under certain circumstances, the Federal Excise Tax is charged when domestic goods are registered. Merchandise may be stored for an unlimited amount of time, regardless of the origin.
Authorized Activity
-
Destruction of goods
-
Mixing, manipulation, and cleaning of goods
-
Assembly and testing of goods
-
Re-labeling, re-packaging, and sorting of goods
-
Salvage of goods
-
With special permission, importers are allowed to manufacture goods in the FTZ
Customs Regulations
Customs entry regulations only apply to goods that are removed from FTZ deemed to be for consumption within the United States. In the event that an Importer discovers a product defect as noted above, it is possible to salvage or even destroy goods you store in a FTZ. No duty payment is due on goods that are destroyed, damaged, or deemed unusable. Permission to destroy goods will be requested by the Importer and a decision would be rendered by the governing authority.