SIC code

Standard Industrial Classification (SIC) codes are the four digit numerical codes designated by the Government of United States of America as the basis for the establishment of business entities to identify the primary business policies. The codeswere classified in order to develop the grounds for are liable facilitation of collection, presentation and analysis of the data. The other motive of the codes is the promotion of uniformity standards and comparability levels for the presentation of statistical data collected by various agencies of the federal government, state agencies as well as private organizations. The classification primarily takes care of all the economic activities.

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 as products, services, production, and delivery system.

SIC classification:

The SIC system caters to the economy via the route of being classified into 11 divisions thatare 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.

SoftNis is an organization that caters to all the customer requirements in meeting the compliance issues with the Standard industrial classification manual, SIC number and SIC industry codes. The firm ensures the adherence to all the detailed rules and regulation laid down in the SIC code list. We believe in serving the valuable client base with an excellent tailor made service experience.

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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