The venerable Standard Industrial Classification
system itself is being overtaken by structural changes of a different sort.
Also, the principal business activity codes on the new form are based on the new North American Industry Classification System, which has replaced the Standard Industrial Classification
For the first time, the new North American Industry Classification System (NAICS) also is given for each market sector along with the old Standard Industrial Classification
The Standard Industrial Classification
(SIC) Manual, prepared by the Executive Office of the President, Office of Management and Budget, provides the standardized codes used by the U.S.
General characteristics of the small business population as covered by the survey are measured by firm size.and age, organizational form, standard industrial classification
, location and number of offices, management, export sales, and the race, ethnicity, and sex of the firm's majority owners (table 1).
Clients can be targeted by size, standard industrial classification
(SIC) code, location or some other criterion.
A proposed revenue procedure based on the two-digit Standard Industrial Classification
("SIC") code system was published as an appendix to the proposed regulations.
In 1997, the Office of Management and Budget (OMB) announced the adoption of a new standardized system for classifying industries--the North American Industry Classification System (NAICS).(1) NAICS will replace the Standard Industrial Classification
(SIC) system and thus represents one of the most profound changes for government statistical programs since the 1930s.(2) Although the current system has been revised and updated periodically, the basic structure has remained intact since its inception.
Taxpayers had to allocate income into specified product categories that are based on a two-digit Standard Industrial Classification
System (SIC), and then match the related research expenses with that income.
These changes were made to conform with the nomenclature used in the 1987 Standard Industrial Classification
. For foreign direct investment in the United States, the substance of these changes had already been reflected in the detailed estimates of the historical-cost position and related capital and income flows, beginning with the 1987 benchmark survey of foreign direct investment in the United States.
Business-Facts On-CD will provide business counts for primary or secondary Standard Industrial Classification
(SIC) codes, sales volume ranges, employment size ranges, as well as daytime population counts.