meaning of business activity code

business activity code meaning in Law Dictionary

six digit signal utilized in business to classify the key activity a company performs. The company task signal can be used by the IRS to categorize businesses for income tax reasons.

business activity code meaning in Business Dictionary

A six-digit numerical rule the inner sales Service assigns to classify businesses because of the main sort of activity they conduct, to greatly help administer the Internal income Code. For instance, 325620 identifies dental floss production. In structure, they're much like the rules given by the us business Classification program.