The Foreign-Trade Zone Corporation has a wealth of experience and an exceptional success rate at facilitating equitable ad valorem tax arrangements with businesses, grantees, and local communities. The federal law that established the U.S. Foreign-Trade Zones Program allows companies to obtain exemptions from inventory taxes. Certain tangible personal property is generally exempt from state and local ad valorem taxes. A small number of states assess local taxes on business inventories. The Foreign-Trade Zones Act exempts most merchandise from such taxes in Foreign-Trade Zones.