SIC Classification | SIC Industry Codes

Standard Industrial Classification (SIC) codes are the four digit numerical codes assigned by the Government of United States of America as a basis for Business establishments to identify their primary business.

SoftNis is an organization that caters to customers’ requirements in meeting the compliance issues with the Standard industrial classification manual, SIC number and SIC industry codes. We ensure adherence to all the detailed rules and regulations laid down as per SIC code list. It’s vital to have the correct SIC code for your business classification.

The motive of using SIC Industry Codes:

Establishment of standards for standardized classification, in which data is measured, analyzed and shared.
Assignment of data on the basis of common characteristics of products, services, production, and delivery system.

SIC classification:

The SIC system The SIC system caters to the economy via the route of being classified into 11 divisions that are further spread out into 83 (2-digit) major group systems. These (2-digit) major group systems are further subdivided into 416 (3-digit) industrial groups, and the final disaggregation is made in the form of 1,005 (4-digit) industries.

Applications of SIC Codes:

Internal Revenue service sector.
Social Security administration.
To resolve workforce, wage, and pricing issues.
Classification of employers under the primary business activity.
Employer ID applications.

SIC Code List:

The code can be related with or identified as the first two digits of the code identify the major industry group, the third digit identifies the industry group, and the fourth digit is for identification of the industry.

0100 to 0999- Agriculture, Forestry, and fishing.
1000 to 1499- Mining.
1500 to 1799-Construction.
1800 to 1999-Not in use
2000 to 3999- Manufacturing.
4000 to 4999- transportation, communication, electric, gas and sanitary service.
5000 to 5199-Wholesale Trade.
5200 to 5999-Retail Trade.
6000 to 6799- Finance, Insurance and Rea Estate.
7000 to 8999- Services.
9100 to 9729- Public Administration.

SIC Classification Examples:

Example 1: Lancer Hospitality

Division	20-39	Manufacturing
Major Group	20	Food And Kindred Products
Industry Group	209	Miscellaneous Food Preparations And Kindred
Industry	2099	Food Preparations, Not Elsewhere Classified

Example 2: Non-English: TRANSPORTES LIPU, S.A. DE C.V.

Division	40-49	Transportation & Public Utilities
Major Group	47	Transportation Services
Industry Group	478	Miscellaneous Services Incidental To Transportation
Industry	4789	Transportation Services, not elsewhere classified

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