A NAICS (pronounced NAKES) code, or North American Industry Classification System code, is a six-digit number used to classify businesses by industry. Federal agencies use these codes to collect and analyze economic data. Businesses rely on NAICS codes for market research, government contracts, and tax incentives. This article will explore what is a NAICS code, …
NAICS Changes for 2017 Highlights of Impending NAICS Changes Include: Crude Petroleum and Natural Gas Extraction (2012 NAICS Code 211111) will be broken into two new codes in 2017. These codes will be 211120, Crude Petroleum Extraction and 211130, Natural Gas Extraction. Also, Natural Gas Liquid Extraction, (2012 NAICS Code 211112) will become NAICS …
What Exactly Are NAICS & SIC Codes? 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. The purpose of this task was to promote the comparability of establishment data to describe the US and Canadian Economies. …