Colleges, Universities, and Professional Schools
Furnishing academic courses and granting degrees at baccalaureate or graduate levels. The requirement for admission is at least a high school diploma or equivalent general academic training. Instruction may be provided in diverse settings, such as the establishment's or client's training facilities, educational institutions, the workplace, or the home, and through diverse means, such as correspondence, television, the Internet, or other electronic and distance-learning methods. The training provided by these establishments may include the use of simulators and simulation methods.
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What is SBA Size Standard?
The maximum annual revenue a business can have to qualify as a "small business" for federal contracting and SBA loan programs.
What's Included
- ✓Colleges (except junior colleges)
- ✓Theological seminaries offering baccalaureate or
- ✓graduate degrees
- ✓Military academies, college-level
- ✓Universities
- ✓Professional schools (e.g., business administration,
- ✓dental, law, medical)
- ✓EDUCATIONAL SERVICES
- ✓511
- ✓T—Canadian, Mexican, and United States industries are comparable.
- ✓census.gov/naics
Example Companies
- ●Southern New Hampshire University- University
- ●Liberty University- University
- ●Grand Canyon University- University
Frequently Asked Questions
Yes. Most businesses operate under several NAICS codes. Your primary code should reflect your main source of revenue. You can list secondary codes for other business activities when registering with government agencies or applying for contracts.
Choose the NAICS code that represents your largest revenue source as your primary code. You can add secondary codes for other activities. For example, a restaurant that also offers catering would use Full-Service Restaurants as the primary code and Caterers as a secondary code.
NAICS codes do not directly determine your tax obligations. However, certain tax credits, deductions, and industry-specific regulations may reference NAICS codes to determine eligibility. Your actual tax liability depends on your business structure and activities, not your classification code.
No. The NAICS code on your EIN application is for statistical purposes only. You can update it if your business activities change. The IRS uses this information for economic analysis, not for determining your tax treatment.
You can update your NAICS code when filing your next business tax return or by contacting the IRS. For government contracts, update your code in SAM.gov. There is no penalty for changing codes as your business evolves or if you selected the wrong code initially.