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. Both people and businesses are favored by Oregon. In this region, sales tax is not charged on goods. This has made it an area envied by those living in surrounding states. 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.
Elimination of the sales tax makes it easy for businesses to reduce on costs. Sales tax normally consumes a lot of money forcing businesses to increase the prices of their items. Without it, production costs are greatly reduced making items more affordable. Oregon thus has cheaper items compared to other regions. Small businesses have therefore been able to establish themselves as a result. Compared to other regions, businesses in Oregon thrive well.
There are also tax incentive programs that Oregonian businesses get to enjoy. These programs enable them to learn how to improve their tax systems. These aim at reducing on the amount of taxes businesses pay and increasing their involvement in community projects. This places social responsibility in the hands of businesses. They are therefore made more responsible to the society. It also helps in giving a sense of independence to the businesses as there is no constant follow up on them. They also get very low rates for other taxes. Businesses can apply to get exemptions from these taxes. This stimulates the growth of industries.
There is leniency in the tax systems applied by the state in Oregon. 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. Businesses therefore have time to focus on their growth. The business gets to improve on its performance as the money they would otherwise use for tax is put back into the business. Interference from authorities are thus removed from the businesses allowing them to operate freely.
Other states need to adapt the Oregonian tax system. This is because it has proven to work well towards achieving 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. It is thus important that states surrounding Oregon allow for this form of tax exemption as it will enable expansion of their industries and boost businesses to perform as those in Oregon. This is a great step towards achieving free trade.