Conducting Business in Oregon
People would go and live in places with lower costs of living. This is because with the rising costs of items, people want to reduce on costs. Both people and businesses are favored by Oregon. This is because there is no sales tax charged on items sold in this region. This area is therefore envied by people living in the surrounding states. Oregon is therefore listed among the best places to have businesses. Other states are looking forward to adapting the type of systems used in Oregon.
The major benefit of not having sales tax charged is that it helps 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. 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. Businesses in this region therefore perform well compared to those in other regions.
Oregonian businesses get to enjoy tax incentive programs. They are taught on how to improve their tax systems in these programs. The core objective of the programs is to increase participation of businesses in community projects and cut on their taxes. Businessses therefore get more involved in social responsibility. 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. Businesses can apply to get exemptions from these taxes. Industries therefore get to grow a lot.
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 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 it has proven to work well towards achieving equal growth opportunities for businesses. Businesses operating in Oregon and have branches elsewhere are also allowed to have the tax exemption in their branches. 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.