Benefits of Oregonian Businesses
People prefer to live in places where living costs are low. As a result of the increasing living costs, people aim at cutting on costs. Both people and businesses are favored by Oregon. In this region, sales tax is not charged on goods. Those living in the surrounding states therefore envy this area. Oregon is therefore listed among the best places to have businesses. This type of system is admirable for other states and most look forward to adapting it.
Elimination of the sales tax makes it easy for businesses to reduce on costs. If the sales tax is available, businesses will have to increase the price of goods. 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. They are taught on how to improve their tax systems in these programs. 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. 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 however apply to get some of these tax obligations removed from them. 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 for businesses coming up and have not reached certain levels of income. This allows businesses sufficient growth time. The money that would otherwise be used for paying taxes is therefore channeled back to the business boosting its capacity. There is also more freedom of operation for businesses as they will not be interfered with by authorities.
It is important that all states adapt the Oregonian tax system. 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. 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.