Business Licensing Essentials: NAICS Code Update

Every month in 2022, the Municipal Association’s Local Revenue Services is hosting “Business Licensing Essentials,” a series of virtual training sessions on the processes needed to administer business license taxes correctly, efficiently and in a way that makes life easier for those doing business inside a city or town. The session on North American Industry Classification System codes, or NAICS codes, will take place Wednesday, July 13, from 10 to 11:30 a.m. 

Using six-digit numbers, NAICS bundles individual businesses into similar industry groups, and NAICS codes are part of the way that cities calculate a business license tax. The SC Business License Tax Standardization Act requires all cities and towns to use current NAICS codes. When the state passed this law in 2020, the current NAICS codes were those established in 2017; however, the codes receive updates every five years. 

This session will help bring business license administrators up to speed on the changes found in the 2022 NAICS updates. 

Find the recordings of past meetings online.