In Texas, freeport and goods in transits allow regions to remain competitive on a global scale. El Paso County supports freeport and goods in transit. This has allowed warehouse facilities that store many types of goods and raw materials such as consumer electronics, automotive parts, apparel, and technology components to prosper in the region.
Did you know that in Texas the state offers a freeport exemption?
Yes, a freeport exemption applying to goods, wares, ores and merchandise other than oil, gas and petroleum products (defined as liquid and gaseous materials immediately derived from refining petroleum or natural gas) and to aircraft or repair parts used by a certificated air carrier. The freeport goods qualify if they leave Texas within 175 days from the date they are brought into or acquired in the state.
Did you know that Texas also offers an exemption on goods in transit?
Goods in transit, described as goods acquired inside or outside the state, detained at a facility in which the owner of the goods has no direct or indirect ownership of the facility, detained for storing purposes by the person who acquired or imported the property, and then shipped to another location in or out of this state within 175 days. The goods do not include oil, gas or petroleum products or special inventories such as motor vehicles or boats in a dealer’s retail inventory.