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. Oregon favors most people and businesses. There is no sales tax charged on items being sold in this region. This has made it an area envied by those living in surrounding states. People thus consider Oregon to be a good place for businesses. It is the aim of most other states to adapt their system.
Without the sales tax, businesses are able 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. The items sold within Oregon are therefore cheaper compared to those in other regions. Small businesses have therefore been able to establish themselves as a result. Businesses in this region therefore perform well compared to those in other regions.
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. 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. They also get very low rates for other taxes. Businesses can apply to get exemptions from these taxes. Industries therefore get to grow a lot.
The tax system used in Oregon is also 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 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. There is also more freedom of operation for businesses as they will not be 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. Achieving free trade starts with taking up such steps.