The truckers circled round the capital, February 6, 2020, in protest over governor Kate Brown and the Oregon state legislature’s new taxes: gross receipt’s tax, carbon tax, payroll tax and many, many more. You name it there is a tax on business and employees. Your business is facing the ramifications of these taxes.
“Hidden” taxes have driven businesses out of Oregon for over 20 years. To escape, Oregon’s Fortune 500 companies (i.e. Louisiana Pacific and Georgia Pacific) moved to more business-friendly states like Tennessee and Georgia, starting in the late 1990s.
In December 2010, the WSJ reported the next wave. Oregon’s Millionaires’ Tax Drives Millionaires Out of State
During the 2000s, companies moved to southwest Washington. Tax and regulations are catching up with those companies and they are now moving to Idaho and other business-friendly states.
What do you do now? Move? Stay? Fight? Concede? All of the above? How do you decide?
What do you do as a business to survive and thrive?
Top Line Bottom Line- Sales and Operations
Two of the most important actions a business can take are to: Optimize sales (Top Line) and maximize the efficiency of operations (Bottom Line).
Maximizing profitability starts with understanding business processes (Sales and Operations) and their associated costs. Bottom line accounting, quantifying true costs and making smart changes will significantly improve profitability. Accounting and financial reports do not accurately reflect the true cost of a product or service. Click Link for WSJ case example.
Assess your business processes (top line and bottom line) and make smart decisions regarding optimizing business processes and maximizing profitability.
Click Link to review The Mervyn Group 5 Step Assessment and Cost Benefit Analysis methodology to achieve these goals.
Contact Debra Mervyn Debra@MervynGroup.com to learn more.
Learn more about tax and regulation by clicking on Here Come the Taxes, August 2, 2019, Mark Childs, SIOR, Capacity Commercial Group
