There are Many Tax Advantages for Businesses Locating in the Port of Victoria’s Texas Logistics Center
21 Oct 2022
Businesses locating at the Texas Logistics Center will find there are many tax advantages to doing so. Texas offers several general tax advantages, including no corporate income tax or individual state income tax. The Port of Victoria is also located within a Texas Enterprise Zone, which means there is a state sales and use tax refund program available to businesses there.
Tax Advantages of Being Within a Foreign Trade Zone
Another tax advantage is the Port of Victoria’s location within a Foreign Trade Zone, which means that it is designated by the federal government for duty-free entry of any non-prohibited goods. This designation has significant benefits, including the ability to store and display merchandise that is used for manufacturing within this zone, and re-exported without duties.
Contact us today to find out how the Port of Victoria staff can help your business to learn more about the various county and state tax programs designed to help area business development. There are also programs for employee training and workforce development available to companies that locate in the Port of Victoria.