Why Go for 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. Both people and businesses are favored by Oregon. In this region, sales tax is not charged on goods. This area is therefore envied by people living in the surrounding states. Oregon is therefore listed among the best places to have 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. 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. 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. This places social responsibility in the hands of businesses. They are therefore made more responsible to the society. Because there is no constant follow up on the business, they get to be more independent. They also get very low rates for other taxes. The businesses are also allowed to apply for exemptions from these taxes. Industries therefore get to grow a lot.
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. Businesses therefore have time to focus on their growth. Money that would be spent to pay tax is therefore injected into the business improving its performance. 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 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. To enable expansion of industries and boost growth of businesses, states surrounding Oregon have to adapt removal of sales tax. This is one of the steps towards achieving free trade.