Conducting Business in Oregon
Most people would want to live in a place where the costs of living are affordable. People desire to cut on costs due to the rising costs of living. Both people and businesses are favored by Oregon. This is because there is no sales tax charged on items sold in this region. Those living in the surrounding states therefore envy this area. Oregon is therefore listed among the best places to have businesses. This type of system is admirable for other states and most look forward to adapting it.
Without the sales tax, businesses are able to reduce on costs. Sales tax normally consumes a lot of money forcing businesses to increase the prices of their items. When the sales tax is done away with, businesses are able to reduce on their production costs making products and services more affordable. The items sold within Oregon are therefore cheaper compared to those in other regions. This has worked well in enabling small businesses coming up to be established. It has thus led to thriving of businesses within this region.
Oregonian businesses get to enjoy tax incentive programs. During these programs, they are taught about ways of improving their tax systems. These aim at reducing on the amount of taxes businesses pay and increasing their involvement in community projects. Businessses therefore get more involved in social responsibility. They thus become more responsible to 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. Businesses can however apply to get some of these tax obligations removed from them. This stimulates the growth of industries.
The tax systems in this region are as well a bit lenient. Businesses get to operate without tax obligations for a specific period of time. This is for businesses coming up and have not reached certain levels of income. This allows businesses sufficient growth time. Money that would be spent to pay tax is therefore injected into the business improving its performance. Businesses also acquire more freedom of operation and are not constantly interfered with by authorities.
It is important that all states adapt the Oregonian tax system. 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. Elimination of the sales tax has proven to work well in ensuring that businesses diversify and focus on important aspects of their development. States surrounding Oregon should adapt the law of removing sales tax to ensure that their industries get to expand and businesses grow to match those in Oregon. This is one of the steps towards achieving free trade.