Conducting Business in Oregon
People prefer to live in places where living costs are low. As a result of the increasing living costs, people aim at cutting on costs. Oregon is one of the places believed to favor both people and businesses. 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. 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.
Elimination of the sales tax makes it easy for businesses to reduce on costs. A lot of money is taken by sales tax making businesses to increase prices of goods. Without it, production costs are greatly reduced making items more affordable. Prices of items in Oregon are therefore lower than 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.
Businesses in Oregon also have tax incentive programs that are beneficial to them. 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. The state therefore strives at placing social responsibility in the hands of businesses. This has made them more aware of their roles in 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. The businesses are also allowed to apply for exemptions from these taxes. This stimulates the growth of industries.
There is leniency in the tax systems applied by the state in Oregon. Businesses get to operate without tax obligations for a specific period of time. 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. 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 through it, businesses have gained equal opportunities for growth. The sales tax exemption also applies to businesses based in Oregon and have branches elsewhere. With the removal of sales tax, businesses focus on important aspects such as 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. Achieving free trade starts with taking up such steps.