Number of codes in the NAICS System:
- 6-Digit: 1,198
- 5-Digit: 725
- 4-Digit: 314
- 3-Digit: 98
- 2-Digit: 24
- Supersector: 11
What is a NAICS code and how is it used?
What is an NAICS Code? An NAICS Code (North American Industry Classification System) is used by government agencies to identify your LLC’s line of business and activities. It’s mostly used for statistical purposes. Some states (like Alaska, Arkansas, Connecticut, Mississippi, Georgia, Louisiana, New Hampshire, and New Mexico) will ask for your NAICS Code.
How to find your NAICS number?
- Developed in 1997 by government agencies of the three NAFTA countries: U.S., Canada, and Mexico.
- NAICS is pronounced as "nakes," thus rhyming with "snakes."
- Officially, NAICS codes contain up to six digits. The longer the number, the more specific the industry.
- For additional information, click on the links below.
Which NAICS codes are accepted by the SBA?
NAICS Code: Description: 111110: Soybean Farming: 111120: Oilseed (except Soybean) Farming: 111130: Dry Pea and Bean Farming: 111140: Wheat Farming: 111150: Corn Farming: 111160: Rice Farming: 111191: Oilseed and Grain Combination Farming: 111199: All Other Grain Farming: 111211: Potato Farming: 111219: Other Vegetable (except Potato) and Melon Farming: 111310: Orange Groves: 111320.
Where can you Find Your NAICS code?
Questions & Answers
- How many NAICS codes can a company have? An establishment may only have one (1) Primary NAICS code, which is determined by the industry that generates the highest revenue or ...
- How do I apply for a NAICS Code? ...
- I need a NAICS Code for my business. ...
- Who assigns NAICS codes to businesses? ...
What is a 2 digit NAICS code?
The first two digits of the code designate the sector, the third designates the subsector, the fourth digit designates the industry group, the fifth digit designates the NAICS industry, and the sixth digit designates the national industry.
Can you have more than 1 NAICS code?
Yes, some agencies assign more than one NAICS codes to one establishment. For instance, the SAM (System for Award Management formerly CCR), where businesses register to become federal contractors, will accept up to 5 or 10 classification codes per establishment.
How many NAICS industries are there?
In all, there are 474 NAICS industries in manufacturing as compared with 459 in the 1987 SIC.
Can NAICS code be 4 digits?
The 4-digit NACIS Code is a "parent" of the 6-digit NACIS Code the debtor may use for their tax records or for other business purposes. If you know the debtor's 6-digit NACIS Code, the first four digits should be used to complete question 7.
Can a business have 2 SIC codes?
Yes. SIC Codes are used to identify the primary line of business for any specific company, however, many companies have more than one line of business.
Can you change NAICS code?
There is no “official” way to have a company's SIC or NAICS code changed. Various Federal government agencies maintain their own lists of business establishments, and assign classification codes based on their own programmatic needs.
Do all companies have NAICS code?
Does My Business have a NAICS Code? Yes. As long as you have a business you must have a business activity. Your code merely describes your Primary and Secondary Income-Producing Lines of business.
How many 3 digit NAICS codes are there?
102 subsectors (3-digit codes) 324 industry groups (4-digit codes)
How are NAICS codes determined?
The U.S. Census Bureau assigns one NAICS code to each establishment based on its primary activity (the activity that generates the most revenue for the establishment) to collect, tabulate, analyze, and disseminate statistical data describing the economy of the United States.
Are all NAICS codes 6 digits?
A complete and valid NAICS code contains six digits. In developing NAICS, the United States, Canada, and Mexico agreed that the 5-digit codes would represent the level at which the system is comparable among the three countries.
How many 4 digit NAICS are there?
The system divides activities 11 divisions, then into 83 2-digit major groups, next into 416 3-digit industry groups, and finally into 1,005 4-digit industries.
How do I find my LLC NAICS code?
If you need help determining the NAICS Code for your LLC, you can contact the US Census Bureau at 1-888-756-2427 for assistance.
What happens if you choose the wrong NAICS code?
Tax Benefits Your state government may also use NAICS codes to offer tax incentives to certain industries. Under the wrong NAICS code, you may be missing out on these incentives.
What if I pick the wrong NAICS code?
RESOURCES. So, that is why choosing the right NAICS Code for your business is so important prior to your registration because once you choose the wrong one, you might really lose a potential millions of dollars in revenue.
Does NAICS code matter?
NAICS Codes allow them to focus their Targeted Marketing Efforts on companies in similar or identical Industries. By Acquiring NAICS Information, one can gain a better understanding of their best customers and the industries that might best benefit from their products and services.
Does every business have a NAICS code?
Does My Business have a NAICS Code? Yes. As long as you have a business you must have a business activity. Your code merely describes your Primary and Secondary Income-Producing Lines of business.
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.
What is an Naics code?
A NAICS (pronounced NAKES) Code is a classification within the North American Industry Classification System. The NAICS System was developed for use by Federal Statistical Agencies for the collection, analysis and publication of statistical data related to the US Economy.
What is the difference between Naics and SIC codes?
What is the difference between SIC and NAICS codes? The SIC groups all forms of industry and services into ten broad divisions (01 to 91). NAICS classifies all economic activity into twenty industry sectors: five goods-producing sectors and fifteen services sectors; and it uses a six-digit code.
What is SIC code mean?
The Standard Industrial Classification (SIC) is a system for classifying industries by a four-digit code. Established in the United States in 1937, it is used by government agencies to classify industry areas. The SIC system is also used by agencies in other countries, e.g., by the United Kingdom's Companies House.
What is Naics 541611?
Definition of NAICS Code 541611: This U.S. industry comprises establishments primarily engaged in providing operating advice and assistance to businesses and other organizations on administrative management issues, such as financial planning and budgeting, equity and asset management, records management, office
What is a business code number?
Every business must have a Principal Business Code (PBC) for filing federal business tax returns and for other U.S. government identification purposes. This six-digit number describes the types of products or services you sell, the industry you are in, and who you sell to.
Who created Naics?
History of the NAICS Code. The Standard Industrial Classification (SIC) was originally developed in the 1930's to classify establishments by the type of activity in which they are primarily engaged and to promote the comparability of establishment data describing various facets of the U.S. economy.
What is NAICS classification system?
It uses a hierarchical six-digit coding system, classifying all economic activity into 20 different industry sectors. Five of these sectors are primarily those that produce goods while the remaining 15 sectors provide some type of service. Every company receives a primary NAICS code, indicating its main line of business. This primary code is determined by the code definition that generates the largest revenue for a company at a specified location in the past year. 3
What is the NAICS code for agriculture?
The fifth digit of the code reflects the company’s particular industry of operation. The sixth and final digit designates the company’s specific national industry. Soybean farming, for example, has the NAICS code 111110, which is broken down to sector 11, subsector 111, industry group 1111, industry 11111, NAICS code 111110. 3
Why was NAICS established?
The NAICS was established to replace and modernize the U.S. Standard Industrial Classification system. The new system enables easier comparison of all countries in North America. To ensure the NAICS continues to be relevant, there is a planned system review every five years. 1
Who is responsible for the NAICS?
The three parties responsible for the formation and continued maintenance of the NAICS are the Instituto Nacional de Estadistica y Geografia in Mexico, Statistics Canada, and the United States Office of Management and Budget through its Economic Classification Policy Committee and staffed by the Bureau of Economic Analysis, Bureau of Labor Statistics and the Census Bureau . 2
What is the North American Industry Classification System?
The North American Industry Classification System is a business-classification system developed through a partnership among the United States, Mexico and Canada. This classification system facilitates the comparison of statistics of all business activities across North America. Companies are classified and separated into industries ...
What Is The North American Industry Classification System?
Understanding The North American Industry Classification System
- The NAICS was established to replace and modernize the U.S. Standard Industrial Classification system. The new system enables easier comparison of all countries in North America.1 To ensure the NAICS continues to be relevant, there is a planned system review every five years.2
The History of The NAICS
- The NAICS is a collaborative effort. The three parties responsible for the formation and continued maintenance of the NAICS are the Instituto Nacional de Estadistica y Geografia in Mexico, Statistics Canada, and the United States Office of Management and Budget through its Economic Classification Policy Committee, staffed by the Bureau of Economic Analysis, Bureau of Labor St…
NAICS Coding System
- The NAICS classification system allows for more flexibility than the four-digit structure of the SIC.6 It uses a hierarchical six-digit coding system, classifying all economic activity into 20 different industry sectors. Five of these sectors are primarily those that produce goods while the remaining 15 sectors provide some type of service. Every company receives a primary NAICS co…
Reading A NAICS Code
- The first two digits of a NAICS code indicate the largest business sector in which a company operates. The third digit designates the company’s subsector, and the fourth digit indicates the industry group to which the company belongs. The fifth digit of the code reflects the company’s particular industry of operation. The sixth and final digit desi...