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NAICS Business Code Number See Instructions Tax Ny  Form

NAICS Business Code Number See Instructions Tax Ny Form

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hey there youtube so in this video i wanted to cover the nics codes uh for your business and what you need to disclose on your tax return so the north american industry classification system this is the nics code system is designed to classify business enterprises by the type of activity they conduct right so if you're in manufacturing you'll have a manufacturing type nics code if you're in consulting investment management restaurants whatever it might be you have a separate code for your sector okay now the principal business activity code is what you see on your tax return so if you're looking at your form 1120s or your 1065 and asks you to enter your principal business activity code this is a similar concept these codes are based on the nics system but they're not exactly the same they're actually more nics codes than there are principal business activity codes okay but even still why is this code system important and why do you need t

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