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. Oregon is one of the places believed to favor both people and businesses. This is because there is no sales tax charged on items 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. Other states are looking forward to adapting the type of systems used in Oregon.
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. This has worked well in enabling small businesses coming up to be established. Businesses in this region therefore perform well compared to those in other regions.
Oregonian businesses get to enjoy tax incentive programs. During these programs, they are taught about ways of improving their tax systems. The core objective of the programs is to increase participation of businesses in community projects and cut on their taxes. The state therefore strives at placing social responsibility in the hands of businesses. They thus become more responsible to 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. This stimulates the growth of industries.
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 mainly for startups that have not generated a certain level of income. This gives time for businesses to grow. 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 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. 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.