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Tuesday, July 1, 2014
Mississippi Furniture Company Files for Foreign Trade Zone for Micro-Denier Suede Fabric
Production under Foreign Trade Zone ("FTZ") procedures could exempt the manufacturer, Southern Motion, Inc., from customs duty payments on the foreign micro-denier suede upholstery fabric used in export production. On its domestic sales, SMI would be able to apply the finished upholstery cover set (i.e., furniture part) or finished furniture duty rate (free) for the micro-denier suede upholstery fabric described below. Customs duties also could possibly be deferred or reduced on foreign status production equipment.