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. 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.
The major benefit of not having sales tax charged is that it helps businesses to reduce on costs. If the sales tax is available, businesses will have to increase the price of goods. Items are made more affordable when the sales tax is eliminated as businesses get to spend less on production. 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. These programs enable them to learn how to improve their tax systems. The core objective of the programs is to increase participation of businesses in community projects and cut on their taxes. Businessses therefore get more involved in social responsibility. They thus become more responsible to 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. Businesses can however apply to get some of these tax obligations removed from them. The growth of industries is thus stimulated.
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. 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 through it, businesses have gained equal opportunities for growth. 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. 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.