UMGC Library: Business Research: NAICS Codes (2024)

FAQs

What if I get my NAICS code wrong? ›

If your business credit report lists an incorrect SIC or NAICS code, you will need to provide the correct NAICS code to the credit bureau that is reporting the wrong information.

Finding your NAICS code

Visit the official NAICS website and use the search function to enter keywords related to your business. You can search for your business NAICS code by entering keywords or the 2-6 digit code.

To identify the NAICS Code being used for a specific company, visit the US Company Lookup Tool by NAICS.com. To identify the proper code for your company, use the NAICS SEARCH TOOLS to identify the code that best reflects your primary business activity (revenue producing activity.)

NAICS 541710 - Research and Development in the Physical, Engineering, and Life Sciences is part of: NAICS 541700 - Scientific Research and Development Services.

Contact the NAICS office for assistance if you need help finding the appropriate code on your own. It is essential to use the correct NAICS code for your business as it is used for various government reporting and data collection purposes.

Does a NAICS code matter for my LLC? Yes, Having a NAICS code can open you up to opportunities in government contracting and allow you to participate in marketing opportunities and deals that you would not have had access to if you did not identify yourself with a NAICS code.

Does Your Business Need a NAICS Code? Unless you're a government contractor, you are not required to have a NAICS code.

The Employer Classification Unit at LMID is responsible for assigning and reviewing NAICS codes. In the event an employer DOES not agree with our coding determination or has not received an assigned NAICS code, they can request an update by writing a letter on their company letterhead.

What is an NAICS code for small business? ›

NAICS code

NAICS codes classify businesses based on the particular product or service they supply. A business will generally have a primary NAICS code, but it can also have multiple NAICS codes if it sells multiple products and services. To find your NAICS code, view the NAICS code list at the U.S. Census Bureau.

541715 - Research and Development in the Physical, Engineering, and Life Sciences (except Nanotechnology and Biotechnology)

Generally, the classification codes are derived from information that the business establishment has provided on administrative, survey, or census reports. For this reason, we recommend that you contact the agency that has assigned the code that you believe should be changed.

The NAICS code indicates if your products or services are exempt. Different sales tax rates may apply based on your NAICS code.

We will review your request, make any necessary changes, and follow-up with you in writing within 10 working days. For your business purposes, all updated or newly assigned NAICS codes can be used immediately. Please fax your written request to (916) 262-2549.