Standard Industrial Classification Code

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Standard Industrial Classification Code

A four digit code used in business to classify the industry to which a company belongs. The SIC code was created by the U.S. government in 1937 to facilitate communication within and between businesses and industries. For the most part, the SIC was replaced by the six digit NAICS in 1997, but the SEC still uses the SIC. For example, an oil & gas exploration company might file with the SEC under the SIC code 1382.
References in periodicals archive ?
Final regulations under IRC section 4941 on the payment of indemnification and insurance by a private foundation for a manager.
4941 against any disqualified person who benefits from the charitable split-dollar insurance transaction and against certain of the charity's managers.
4941 tax on self-dealing transactions with respect to private foundations.
Martin, 95 Wellington Street West, Suite 800, Toronto, Canada M5J 2N7, phone: (416) 367- 4941.