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- 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 they consider credit applications.
www.investopedia.com/terms/s/sic_code.aspWhat Is a SIC Code, Who Needs a SIC Code, and How to Find Yours
A SIC Code is self-classified and the primary code associated with your company can change as your business evolves. If you find a specific agency or government office is using a SIC Code that doesn’t apply to your business, it is best to contact that specific agency/office and request an update.
- SIC Code 5149
For some business types, there may be a similar industry to...
- Business Services, N.E.C
SIC Code 7389 - Business Services, Not Elsewhere Classified...
- Fabricated Metal Products
3499 - Fabricated Metal Products, Not Elsewhere Classified...
- Crops
0131 - Cotton 0132 - Tobacco 0133 - Sugarcane and Sugar...
- Heavy Construction, Except Building
1622 - Bridge, Tunnel, and Elevated Highway Construction...
- Chemicals and Allied Products
2843 - Surface Active Agents, Finishing Agents, Sulfonated...
- Nonclassifiable Establishments
Nonclassifiable Establishments - SIC Code Lookup | SIC Code...
- Coal Mining
Coal Mining - SIC Code Lookup | SIC Code Search Tool
- SIC Code 5149
- What Is A Sic Code?
- Sic Codes vs. NAICS Codes
- Understanding Sic Codes
- How to Find Your Sic Code
- How to Read Sic Codes
- Real-World Examples of Sic Codes
- The Bottom Line
Standard Industrial Classification (SIC) codes are four-digit numerical codes used to categorize U.S. companies by the industries in which they operate. Companies are required to use them in certain government filings. SIC codes were created by the U.S. government in 1937 to help classify and analyze economic activity across various industries and ...
The Standard Industrial Classification codes were supposed to be replaced in 1997 by a system of six-digit codes called the North American Industry Classification System (NAICS).The NAICS codes were adopted in part to standardize industry data collection and analysis between Canada, the United States, and Mexico, which had entered into the North Am...
The SIC system classifies the economy into 11 major divisions: 1. Agriculture, forestry, and fishing 2. Mining 3. Construction 4. Manufacturing 5. Transportation and public utilities 6. Wholesale trade 7. Retail trade 8. Finance, insurance, real estate 9. Services 10. Public administration 11. Nonclassifiable establishments These are then divided i...
There are many different ways to find the most appropriate SIC code for your company. 1. The United States Department of Labor maintains an online system search tool to search SIC codes by keywords. 2. If you know your NAICS code, there are online resources to identify corresponding SIC codes. 3. The Security and Exchange Commission publishes the f...
Each digit in a SIC code has a meaning. To read a SIC code, each set of digits should be independently evaluated to determine the overall meaning of the code.
Apple Inc.'s SEC filings show its SIC code as 3571 (electronic computers). The first two digits—35—identify its major industry group as "Industrial and Commercial Machinery and Computer Equipment," while the third digit—7—narrows its industry group down to "Computer and Office Equipment" and the final digit—1—classifies it as "electronic computers....
Standard Industrial Classification (SIC) codes for U.S. businesses were supposed to have been phased out some 27 years ago. This shorthand, four-digit descriptor of the industry in which a company operates was to have been replaced by another classification system, the North American Industry Classification System (NAICS). That didn't quite happen....
- Elvis Picardo
The industry classifications include the North American Industry Classification System (NAICS) Canada and the Standard Industrial Classification (SIC). Some of the industry classifications from other countries are listed under "Other".
SIC stands for Standard Industrial Classification and NAICS stands for North American Industry Classification System. These are commonly used industry codes in the US, Canada, and Mexico. These universal numbering methods help identify the industry affiliation of a company.
SIC Codes are based on Primary Business Activities. It is a much more general and less specific classification system than the newer NAICS Codes, especially at the official, 4-digit level. You should be looking for the code that best describes what your business does.
Sep 3, 2024 · Understand SIC codes with our comprehensive guide! Learn what they are, who needs one, and how to find your specific SIC code for accurate business classification and compliance.
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Standard Industrial Classification (SIC) Codes are a crucial component of business identification and classification, used to categorize companies based on their primary line of business. SIC Codes are self-selected, meaning businesses determine their own codes according to their main activities.
