How are SIC codes assigned?
SIC codes, or standard industry classification codes, are four-digit codes designed to identify a business by its type. While the codes themselves are standardized, the method of assigning them is not. Many publishers assign codes based on personal interpretation of the business and industry they represent.BasisA SIC code is issued based on the business’s primary function. For example, a business that primarily sells furniture will be assigned a SIC Code that corresponds to furniture sales, even if it sells other items as well.UsesSIC codes are primarily used by the U.S. government to track businesses and create statistical models.IndustriesAs of 2010 there are 1,004 recognized industries under the SIC code umbrella. A business that is registered with the U.S. Government (i.e., it pays taxes) is issued a SIC code corresponding to its main business function.NAICS CodesSIC codes stopped being assigned in November 2004. The system is slowly transitioning to the North American Industry Cla
