Benefits of Oregonian Businesses
Most people would want to live in a place where the costs of living are affordable. People desire to cut on costs due to the rising costs of living. Both people and businesses are favored by Oregon. This is because there is no sales tax charged on items sold in this region. This area is therefore envied by people living in the surrounding states. 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.
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. Oregon thus has cheaper items compared to 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. During these programs, they are taught about ways of improving their tax systems. These aim at reducing on the amount of taxes businesses pay and increasing their involvement in community projects. This places social responsibility in the hands of businesses. They thus become more responsible to society. Independence of the business is also enhanced as they will not be followed up on frequently. 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.
There is leniency in the tax systems applied by the state in Oregon. 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 through it, businesses have gained equal opportunities for growth. 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. Achieving free trade starts with taking up such steps.