Conducting Business in Oregon
People would go and live in places with lower costs of living. As a result of the increasing living costs, people aim at cutting on costs. Both people and businesses are favored by Oregon. There is no sales tax charged on items being sold in this region. Those living in the surrounding states therefore envy this area. Oregon is therefore listed among the best places to have businesses. It is the aim of most other states to adapt their system.
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. 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. It has thus led to thriving of businesses within this region.
There are also tax incentive programs that Oregonian businesses get to enjoy. These programs enable them to learn how to improve their tax systems. The aim of these programs is to increase on the involvement of businesses in community projects and reduction of taxes. 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. The other types of tax are also charged at very low rates. Businesses can apply to get exemptions from these taxes. This stimulates the growth of industries.
The tax system used in Oregon is also 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. Businesses therefore have time to focus on their growth. Money that would be spent to pay tax is therefore injected into the business improving its performance. Interference from authorities are thus removed from the businesses allowing them to operate freely.
It is important that all states adapt the Oregonian tax system. 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. 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 one of the steps towards achieving free trade.