Why Go for 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. 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. The Oregonian environment is thus considered to be a luxurious place for people to conduct their businesses. It is the aim of most other states to adapt their system.
Without the sales tax, businesses are able 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. This has worked well in enabling small businesses coming up to be established. It has thus led to thriving of businesses within this region.
Oregonian businesses get to enjoy tax incentive programs. 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. 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. The other types of tax are also charged at very low rates. The businesses are also allowed to apply for 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 can be allowed to operate freely without paying tax for a certain period of time. This is for businesses coming up and have not reached certain levels of income. Businesses therefore have time to focus on their growth. The money that would otherwise be used for paying taxes is therefore channeled back to the business boosting its capacity. Businesses also acquire more freedom of operation and are not constantly 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. The sales tax exemption also applies to businesses based in Oregon and have branches elsewhere. Elimination of the sales tax has proven to work well in ensuring that businesses diversify and focus on important aspects of 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.