Benefits of Oregonian Businesses
People prefer to live in places where living costs are low. This is because with the rising costs of items, people want to reduce 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.
Elimination of the sales tax makes it easy for businesses 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. 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. Compared to other regions, businesses in Oregon thrive well.
There are also tax incentive programs that Oregonian businesses get to enjoy. 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. Businessses therefore get more involved in social responsibility. This has made them more aware of their roles in society. It also helps in giving a sense of independence to the businesses as there is no constant follow up on them. Very low rates are also charged for other types of taxes. Businesses can apply to get exemptions from these taxes. Industries therefore get to grow a lot.
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 especially if the business is starting up and has still not generated the threshold income indicated. 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.
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. Elimination of the sales tax has proven to work well in ensuring that businesses diversify and focus on important aspects of 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.