Conducting Business in Oregon
People prefer to live in places where living costs are low. This is because with the rising costs of items, people want to reduce on costs. 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. People thus consider Oregon to be a good place for 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. 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. This has worked well in enabling small businesses coming up to be established. Compared to other regions, businesses in Oregon thrive well.
There are also tax incentive programs that Oregonian businesses get to enjoy. 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 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. Very low rates are also charged for other types of taxes. Businesses can apply to get exemptions from these taxes. The growth of industries is thus stimulated.
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. Interference from authorities are thus removed from the businesses allowing them to operate freely.
The Oregonian tax system needs to be adopted by all states. 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. 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. This is one of the steps towards achieving free trade.