Why Go for Business in Oregon
People prefer to live in places where living costs are low. 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. Those living in the surrounding states therefore envy this area. The Oregonian environment is thus considered to be a luxurious place for people to conduct their businesses. Other states are looking forward to adapting the type of systems used in Oregon.
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. Oregon thus has cheaper items compared to other regions. As a result, this has made it possible for small businesses to develop. It has thus led to thriving of businesses within this region.
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. The state therefore strives at placing social responsibility in the hands of businesses. This has made them more aware of their roles in society. It also helps in giving a sense of independence to the businesses as there is no constant follow up on them. They also get very low rates for other taxes. The businesses are also allowed to apply for exemptions from these taxes. The growth of industries is thus stimulated.
The tax system used in Oregon is also lenient. Businesses get to operate without tax obligations for a specific period of time. This is especially if the business is starting up and has still not generated the threshold income indicated. This gives time for businesses to grow. 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.
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. Businesses operating in Oregon and have branches elsewhere are also allowed to have the tax exemption in their branches. 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 one of the steps towards achieving free trade.