Conducting Business in Oregon
Most people would want to live in a place where the costs of living are affordable. As a result of the increasing living costs, people aim at cutting on costs. Oregon is one of the places believed to favor both 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.
Without the sales tax, businesses are able to reduce on costs. If the sales tax is available, businesses will have to increase the price of goods. Items are made more affordable when the sales tax is eliminated as businesses get to spend less on production. Prices of items in Oregon are therefore lower than those in other regions. As a result, this has made it possible for small businesses to develop. Businesses in this region therefore perform well compared to those in other regions.
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. 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. Very low rates are also charged for other types of taxes. The businesses are also allowed to apply for exemptions from these taxes. The growth of industries is thus stimulated.
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 mainly for startups that have not generated a certain level of income. This gives time for businesses to grow. The money that would otherwise be used for paying taxes is therefore channeled back to the business boosting its capacity. Interference from authorities are thus removed from the businesses allowing them to operate freely.
Other states need to adapt the Oregonian tax system. This is because it has worked well in ensuring 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. 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.