Benefits of Oregonian Businesses
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 is one of the places believed to favor both people and businesses. There is no sales tax charged on items being sold in this region. This area is therefore envied by people living in the surrounding states. People thus consider Oregon to be a good place for 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. Sales tax normally consumes a lot of money forcing businesses to increase the prices of their items. When the sales tax is done away with, businesses are able to reduce on their production costs making products and services more affordable. The items sold within Oregon are therefore cheaper compared to those in other regions. As a result, this has made it possible for small businesses to develop. Compared to other regions, businesses in Oregon thrive well.
Businesses in Oregon also have tax incentive programs that are beneficial to them. 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. Independence of the business is also enhanced as they will not be followed up on frequently. Very low rates are also charged for other types of taxes. Businesses can however apply to get some of these tax obligations removed from them. This stimulates the growth of industries.
The tax system used in Oregon is also lenient. Businesses get to operate without tax obligations for a specific period of time. This is for businesses coming up and have not reached certain levels of income. 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 proven to work well towards achieving equal growth opportunities for businesses. Businesses operating in Oregon and have branches elsewhere are also allowed to have the tax exemption in their branches. 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.