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. Oregon favors most people and businesses. 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. 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. When the sales tax is done away with, businesses are able to reduce on their production costs making products and services more affordable. Prices of items in Oregon are therefore lower than those in other regions. Small businesses have therefore been able to establish themselves as a result. Businesses in this region therefore perform well compared to those in other regions.
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. The core objective of the programs is to increase participation of businesses in community projects and cut on their taxes. This places social responsibility in the hands of businesses. 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 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. They allow for businesses to freely operate for given time periods without paying tax. This is especially if the business is starting up and has still not generated the threshold income indicated. 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 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. Removal of the sales tax ensures that businesses get to diversify and focus on 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.