Conducting Business in Oregon
Most people would want to live in a place where the costs of living are affordable. This is because with the rising costs of items, people want to reduce on costs. Oregon favors most people and businesses. There is no sales tax charged on items being sold in this region. Those living in the surrounding states therefore envy this area. People thus consider Oregon to be a good place for businesses. This type of system is admirable for other states and most look forward to adapting it.
The major benefit of not having sales tax charged is that it helps businesses 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. It has thus led to thriving of businesses within this region.
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. This places social responsibility in the hands of businesses. This has made them more aware of their roles in society. Because there is no constant follow up on the business, they get to be more independent. 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. The growth of industries is thus stimulated.
The tax systems in this region are as well a bit lenient. Businesses can be allowed to operate freely without paying tax for a certain period of time. This is especially if the business is starting up and has still not generated the threshold income indicated. Businesses therefore have time to focus on their growth. The business gets to improve on its performance as the money they would otherwise use for tax is put back into the business. Interference from authorities are thus removed from the businesses allowing them to operate freely.
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. Oregon based businesses that have branches elsewhere also get to enjoy the sales tax exemption. 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.
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