FTZs for Fun and Export (Talking Tax)
Federal Programs that Preempt Taxes. The host for this show is Jay Fidell. The guest is Tom Yamachika.
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\nIn this country, a foreign trade zone (FTZ) is a geographical area, in (or adjacent to) a United States Port of Entry, where commercial merchandise, both domestic and foreign, receives the same Customs treatment as if it were outside the United States. The zones help American businesses to be competitive in the global economy by reducing tariff burdens on the importation of foreign inputs and on exported finished products.
\nFor a while, the Department of Taxation was telling folks that a FTZ was a \u201cfederal enclave,\u201d where the laws of the states just don\u2019t apply.
\nThey have since figured out that they made a mistake, and they are seeking compensation (back taxes) from everyone involved.
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\nThe ThinkTech YouTube Playlist for this show is https://www.youtube.com/playlist?list=PLQpkwcNJny6lmEllOKP493URXssFT4N7G