NAICS codes are used to classify companies businesses into a structured system of codes to reach the targeted market easily. If your corporation has more than one type of business, you can have more than one NAICS code. You can also use this information to acquire more clients in the industry.
To locate a company's NAICS code, you can try websites like the U.S. Department of Labor's OSHA Website, NAICS & NAICS Identification Tools of the NAICS Association, Barchart.com, Business Source Complete, and Nexis Uni others.
The NAICS codes list is available at InfoGlobalData; you can directly contact us to avail of the list. Another way might be collecting it from the various websites available.
If you have provided the wrong NAICS code, it can be changed and updated. You can amend your NAICS code when you file your next confirmation statement. An early confirmation statement can also be filed if you need to modify your NAICS code right away. It's a good idea to maintain your information current so that anyone wishing to do business with you has freshly updated information.
The code 99999 represents the dormant company. If your company becomes dormant or non-trading, you can update your NAICS code in the following confirmation statement.
The NAICS system is strictly production-oriented, identifying enterprises solely by their principal economic activity; the NAICS system, on the other hand, transitions from production-oriented logic to market-oriented logic throughout its structure.
Businesses use the NAICS codes list for various purposes. The companies use NAICS codes to categorize their current and potential clients based on their industry. NAICS codes can also be utilized for tax purposes. Professionals and corporations use NAICS codes to establish customized marketing strategies. Marketers may find out who their competitors are in their sector or location using NAICS codes to look for similar businesses.
A NAICS Code describes a company's core business activity. Businesses frequently utilize the NAICS code list to find companies within specified industries for marketing purposes. NAICS codes have been expanded to include over 10,000 unique classes, making them the most exact approach to target firms.