The north american industry classification system naics is the standard used by federal statistical agencies in classifying business establishments. The use of any additional naics code with the bsa e filing system is prohibited. Industry codes are established and maintained by statistics canada and use the north american industry classification system naics, which. Acquisition integration naics codes the north american industry classification system naics industry codes define establishments based on the activities in which they are primarily engaged. Finding the right industry code for your business tax. When completing form t2125, statement of business or professional activities, form t2121, statement of fishing activities, or form t2042, statement of farming activities, you have to enter an industry code that corresponds to your main business activity. For some business types, there may be a similar industry to naics code 54121 accounting, tax preparation, bookkeeping, and payroll services that is a better classification match. Naics replaces the standard industrial classification system sic and categories are constructed on a. Major companies include the big four accounting firms. Apiculture 112920 horses and other equine production. Naics 541200 accounting, tax preparation, bookkeeping, and payroll services these national industryspecific occupational employment and wage estimates are calculated with data collected from employers of all sizes, in metropolitan and nonmetropolitan areas in every state and the district of columbia, in naics 541200 accounting, tax preparation, bookkeeping, and payroll services. Access industry financial analysis and industry market analysis. This canadian industry comprises establishments primarily engaged in providing bookkeeping, billing or. T trilateral agreement united states, canada, and mexico note for indicator field.
North american industry classification system naics canada 2012 this industry comprises establishments primarily. The number of establishments can be affected by methodological. North american industry classification system naics canada. North american industry classification system code. Statistics canada, special tabulation, unpublished data, unclassified. The printed naics 2002 manual is available from ntis. Industry group the north american industry classification system naics is the standard used by federal statistical agencies in classifying business establishments for the purpose of collecting, analyzing, and publishing statistical data related to the u. Federal, state, and local government, excluding state and. The north american industry classification system or naics pronounced nakes is a classification of business establishments by type of economic activity process of production. North american industry classification system naics codes what is naics. Entering a business code only helps the irs keep track of data for statistical purposes. Nov 11, 2019 companies in this industry provide services such as auditing, bookkeeping, payroll processing, and tax return preparation. Naics is the product of a cooperative effort on the part of the statistical agencies of the united states, canada, and mexico.
Industry the north american industry classification system naics is the standard used by federal statistical agencies in classifying business establishments for the purpose of collecting, analyzing, and publishing statistical data related to the u. What is the principal business code for bookkeeping. In addition, many databases and directories use more than one classification system including proprietary ones, although naics tends to be the most commonly used among the databases available here at sfu. North american industry classification system naics code. Companies can have more than one code, depending on their activities. Basic knowledge of tax law and filing requirements is required.
Some commercial databases continue to use sic, however. A guide for small, minorityowned and womenowned businesses is designed to assist small, minority, and womenowned business. The following summary table shows the counts of subsectors, industry groups, industries, and canadian industries for each of the naics. What naics code should i use for my handmade clothing. For more information about planning your industry research and industry codes, check out the video. Accounting, tax preparation, bookkeeping, and payroll. North american industry classification system naics main. New mexico gross receipts tax naics codes naics codes 10 agriculture, forestry, fishing and hunting usacanmex 11 crop production 111100 oil. Industry financial analysis and industry market analysis.
Description hierarchy industry examples crossreferences companies extended sic codes. Financial performance canadian industry statistics. Naics 5412 accounting, tax preparation, bookkeeping, and payroll services description this industry comprises establishments primarily engaged in providing services, such as auditing of accounting records, designing accounting systems, preparing financial statements, developing budgets, preparing tax returns, processing payrolls, bookkeeping. Accounting services industry profile from first research. North american industry classification system naics canada 2012 this industry comprises establishments primarily engaged in auditing accounting records. Canada north american industry classification system naics.
Infants clothes are defined as clothing made for young children 24. Naics 2012 54121 accounting, tax preparation, bookkeeping. Naics focuses on how products and services are created. North american industry classification system naics codes.
You can choose the code below that most closely fits your business. Our data analysts are standing by to assist in your list setup and target marketing. Providing services, such as auditing of accounting records, designing accounting systems, preparing financial statements. The naics is a hierarchical classification system developed jointly by canada, the u. Business counts in naics 72 accommodation and food services, 62 health care and social assistance, 31 33 manufacturing and 4445 retail trade saw the largest decreases. These national industryspecific occupational employment and wage. It has largely replaced the older standard industrial classification sic system, except in some government agencies, such. Sic 8721 accounting, auditing, and bookkeeping services. Census bureau 20 12 naics and have been authorized by financial crimes enforcement network fincen for use with the bsa efiling system.
Sic was used by the us and canadian governments until 1987, when both countries adopted naics. All of the titles, definitions, and index terms are accessible here. Main page north american industry classification system naics us census bureau. North american industry classification system naics canada 2012 classification structure. In addition, accounting practices differ from business to business and the entities. Sic and naics codes industry information research guides. Crosswalk between the north american industry classification system naics and standard industrial classification system sic sic 8721 accounting, auditing, and bookkeeping services. Apr 17, 2016 the suggested cross reference guide for naics code 541219 is based on our research using the resources cited above.
Industry codes are grouped into broad categories, also known as generalized codes. These national industryspecific occupational employment and wage estimates are calculated with data collected from employers of all sizes, in metropolitan and nonmetropolitan areas in every state and the district of columbia, in naics 541200 accounting, tax preparation, bookkeeping, and payroll services. Contractors in this industry may provide both parts and labor when performing work. Sic code 8721 accounting, auditing, and bookkeeping services is a final level code of the services division. It is used by government and business in canada, mexico, and the united states of america. Naics is production oriented not product oriented and categorizes businesses with others that have similar methods of production. Sic code 8721 accounting, auditing, and bookkeeping services. Naics code 54121 accounting, tax preparation, bookkeeping. These national industryspecific occupational employment and wage estimates are calculated with data collected from employers of all sizes, in metropolitan and nonmetropolitan areas in every state and the district of columbia, in naics 999000 federal, state, and local government, excluding state and local schools and hospitals and the u. To order a list of companies within naics code 54121 accounting, tax preparation, bookkeeping, and payroll services for marketing postal mailing, telemarketing, emailing or analyticsuse, click on the link below to buy business list. Dec, 2019 industry codes are established and maintained by statistics canada and use the north american industry classification system naics, which is a comprehensive system encompassing all economic activities. Accounting, tax preparation, bookkeeping, and payroll services naics code.
North american industry classification system code and crossreference for plumbing, heating, and airconditioning contractors. When completing form t2125, statement of business or professional activities, form t2121, statement of fishing activities, or form t2042, statement of farming activities, you have to enter an industry code that corresponds to your main business activity if your business has more than one activity, use the code that most closely. Professional business codes the canada revenue agency says. Establishments providing computer data processing services at their own facility for others are classified in naics code 51821 data processing, hosting, and. There are 72,205 companies classified in this industry in the usa with an estimated employment of 855,854 people. New mexico gross receipts tax naisc codes new mexico. Your industry code helps the canada revenue agency cra classify what kind the source of your selfemployment income might be. What is the north american industry classification system. The north american industry classification system naics is the standard used by federal statistical agencies in classifying business establishments for the purpose of collecting, analyzing, and publishing statistical data related to the u. These establishments may also provide tax return preparation or payroll services. Find more information on sic and naics codes at the following sites. This industry comprises establishments primarily engaged in installing and servicing plumbing, heating, and airconditioning equipment. Finding the right industry code for your business tax return.
Correlating code breakdown for north american industry classification system. Naics north american industry classification system and sic standard industry classification codes are an easy way to group companies engaged in the same economic activities, like mining, retail, or health care. North american industry classification system naics list provided by the cra. North american industry classification system naics the naics is a hierarchical classification system developed jointly by canada, the u. The broadest description starts with the 2 digit sector codes. Accounting, tax preparation, bookkeeping and payroll services. Employers with similar production processes are classified in the same industry. Contracts by naics 1 11 agriculture 21 mining 22 utilities 23 construction 31,33 manufacturing 42 wholesale trade 44,45 retail trade 48,49 trans. May 08, 2017 north american industry classification system code and crossreference for plumbing, heating, and airconditioning contractors. Finding the right industry code for your business tax return 2020. The following north american industry classification system naics codes are taken from the u. Feb 05, 2020 sic was used by the us and canadian governments until 1987, when both countries adopted naics. Naics 5412 accounting, tax preparation, bookkeeping, and.
North american industry classification system wikipedia. Adopted in 1997 to replace the old standard industrial classification sic system, naics is the industry classification system used by u. This tutorial gives an overview of the north american industry classification or naics coding system created by the u. Crosswalk between the north american industry classification system naics and international standard industrial classification of all economic activities code revision 4. Apr 17, 2016 naics code 5412 tax preparation services. North american industry classification system naics naics description. Standard industrial classification sic code look up on the united states department of. North american industry classification system naics. Accounting, tax preparation, bookkeeping and payroll. The number of establishments can be affected by methodological changes, i. Department of the treasury overall, as well as for the treasury. Industry classification province of british columbia.
Accounting, tax preparation, bookkeeping, and payroll services 1 2 3 456 7 8 9 can mex us title definition naics industries. Typically, the cra, and statistics canada use industry codes for statistical purposes but the cra also uses these codes in order to compare similar businesses within the same industry their annual income, expenses claimed which helps them discover trends which. The north american industry classification system is a system for classifying business establishments. Dec, 2017 this tutorial gives an overview of the north american industry classification or naics coding system created by the u. Naics codes the north american industry classification system or naics pronounced nakes is used by business and government to classify business establishments according to type of economic activity process of production in canada, mexico, and the united states of america. This standard was approved as a departmental standard on march 21, 2016 naics canada 2017 version 1. Naics replaces the standard industrial classification system sic and categories are constructed on a productionprocessoriented basis. A listing of the industry codes used on form t2125. North american industry classification system title. Nature of business naics codes code name 72 accommodation and food services 72111 hotels except casino hotels and motels 72112 casino hotels 721191 bed and breakfast 721192 housekeeping cottages and cabins 721198 all other traveller accommodation 721211 recreational vehicle rv parks and campgrounds 721212 hunting and fishing camps. The suggested cross reference guide for naics code 541219 is based on our research using the resources cited above. Some of the leading and most notable companies are listed below. Bizminer industry reports track 9,000 lines of business at local and national levels.