What Are SIC And Naics Codes?

What is SIC code 7372?

Establishments primarily engaged in the design, development, and production of prepackaged computer software.

Important products of this industry include operating, utility, and applications programs..

Where do I find my SIC code?

To find SIC codes, click on the “Company Information” link in the blue banner near the top. Enter company name or ticker in the search box & set box to left as “company name” or “ticker symbol.” Open up company record and click on “Industry” link.

How do I find my 6 digit Naics code?

Go to www.Census.gov and at the top highlight “Business” and click on “NAICS”. They have a section called “Ask Dr. NAICS” at that location. You can Call or E-mail them with your questions.

What does Naics mean?

North American Industry Classification SystemThe North American Industry Classification System (NAICS, pronounced Nakes) was developed under the direction and guidance of the Office of Management and Budget (OMB) as the standard for use by Federal statistical agencies in classifying business establishments for the collection, tabulation, presentation, and …

Are SIC codes still used?

While SIC codes are still used by some organizations and government agencies for non-statistical purposes, NAICS numbers are the standard for federal economic study applications.

What is a 6 digit industry code?

An industry code is a 6-digit number used to identify the type of business you are operating. For tax purposes, all self-employment activities, even freelance and “gig” work, are considered to be “business activities”. Everything from retail shops to housecleaning to pet sitting has a code to match.

Is Naics code on tax return?

Definition of NAICS Code 541213: This U.S. industry comprises establishments (except offices of CPAs) engaged in providing tax return preparation services without also providing accounting, bookkeeping, billing, or payroll processing services.

How do I find my Naics SIC code?

Using your NAICS Code to find your SIC Code: Visit the SIC to NAICS Crosswalk Page to Find Your SIC Code. You can enter your NAICS code into the NAICS to SIC Crosswalk tool to find the corresponding SIC Codes.

What is an SIC code used for?

Companies use SIC codes to identify their existing customers and potential customers by industry. SIC codes can be used to classify companies for tax purposes. Banks and creditors use SIC codes to identify the industry a company belongs to when considered extending credit.

What are SIC and Naics codes and how are they used?

Both Standard Industrial Classification (SIC) and North American Industrial Classification System (NAICS) codes identify a firm’s primary business activity. For example a firm with SIC 571 primarily sells retail furniture. … SIC codes can be up to four digits and NAICS codes can be up to six digits.

What is a 6 digit business code?

The principal business code is a six digit number that represents the field of work you are in. This code is entered on your Schedule C.

What does Naics and SIC stand for and represent?

SIC: The Standard Industrial Classification (SIC) system was originally developed in the 1930’s to classify establishments by the type of activity in which they are primarily engaged. … NAICS: The North American Industry Classification System (NAICS) was established in 1997 to replace the no longer sufficient SIC system.