Conducting Business in Oregon
Most people would want to live in a place where the costs of living are affordable. As a result of the increasing living costs, people aim at cutting on costs. Oregon favors most people and businesses. This is because there is no sales tax charged on items sold in this region. This has made it an area envied by those living in surrounding states. The Oregonian environment is thus considered to be a luxurious place for people to conduct their businesses. This type of system is admirable for other states and most look forward to adapting it.
The major benefit of not having sales tax charged is that it helps businesses to reduce on costs. A lot of money is taken by sales tax making businesses to increase prices of goods. Items are made more affordable when the sales tax is eliminated as businesses get to spend less on production. Oregon thus has cheaper items compared to other regions. Small businesses have therefore been able to establish themselves as a result. It has thus led to thriving of businesses within this region.
Oregonian businesses get to enjoy tax incentive programs. They are taught on how to improve their tax systems in these programs. The aim of these programs is to increase on the involvement of businesses in community projects and reduction of taxes. This places social responsibility in the hands of businesses. This has made them more aware of their roles in society. Because there is no constant follow up on the business, they get to be more independent. They also get very low rates for other taxes. The businesses are also allowed to apply for exemptions from these taxes. The growth of industries is thus stimulated.
The tax systems in this region are as well a bit lenient. They allow for businesses to freely operate for given time periods without paying tax. This is mainly for startups that have not generated a certain level of income. This allows businesses sufficient growth time. The business gets to improve on its performance as the money they would otherwise use for tax is put back into the business. There is also more freedom of operation for businesses as they will not be interfered with by authorities.
The Oregonian tax system needs to be adopted by all states. This is because it has worked well in ensuring equal growth opportunities for businesses. Oregon based businesses that have branches elsewhere also get to enjoy the sales tax exemption. With the removal of sales tax, businesses focus on important aspects such as their development. To enable expansion of industries and boost growth of businesses, states surrounding Oregon have to adapt removal of sales tax. Achieving free trade starts with taking up such steps.