NAICS


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Related to NAICS: sic, SIC code
AcronymDefinition
NAICSNorth American Industry Classification System (US Census Bureau)
NAICSNorth American Industry Classification System
References in periodicals archive ?
* Requiring the securities valuation committee to report annually on the NAIC's recommended valuations of securities; and
NAICS 442110, Furniture Stores, includes establishments that retail new furniture, such as household furniture, outdoor furniture, office furniture (except that sold in combination with office supplies and equipment), or furniture sold in combination with major appliances, home electronics, home furnishings, or floor coverings.
Although NAICS has been introduced into many other Federal data series, the introduction of NAICS into the FRB's series was unique in several ways.
Q: Is a taxpayer whose business falls within one of the ineligible NAICS codes (e.g., publishing--NAICS codes 5111 and 5122) precluded from using the cash method, even if part of its business consists of providing services (e.g., advertising space in its publications)?
(An abbreviated list of NAICS codes can be found online in the IRS instructions for business income tax returns at www.census.gov.)
The change from SIC to NAICS is considerably more sweeping than the past updates to the SIC, and its implementation is considerably more complex.
The NAICS system reclassifies and regroups industries to better reflect the North American economy.
According to the company, the chief characteristic that distinguishes the NAICS system from SIC codes is that NAICS focuses on processes rather than on products--in other words, the "how" as opposed to the "what." Therefore, NAICS contains new industry sectors, such as "information," which include traditional publishing industries, software and database publishing, broadcasting, and other businesses that produce information.
Bureau of the Census to assist in the development of the NAICS.
DOI/FISH AND WILDLIFE SERVICE: $35,000 (NAICS: 235990)
COMPTROLLER OF THE CURRENCY: $820,000 (NAICS: 541519)
DHS/CITIZENSHIP & IMMIGRATION: $84,280 (NAICS: 541611)