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The North American Industry Classification System or NAICS (/ n eɪ k s /) [1] is a classification of business establishments by type of economic activity (the process of production). It is used by governments and business in Canada , Mexico , and the United States of America .
NAICS sector 11 (abbreviated to NAICS 11) is a sub-classification of economic activity that covers agriculture, forestry, fishing and hunting in the North American Industry Classification System (NAICS) system in Canada, the United States and Mexico.
The law holds BIDs accountable to all payees into the district through a board of directors that is composed of business and property owners located within the district. All property owners, lessees and residents within the district are given the opportunity to vote for the tax in their district. [21]
Property owners may also declare a value, which is subject to change by the tax assessor. Once the value is determined, the assessor typically notifies the last known property owner of the value determination. Such notices may include the calculated amount of tax. The property owner may then contest the value. [13]
Direct tax is a tax paid by a person, as opposed to a tax levied on a business that the person indirectly pays. Double taxation is when a tax is paid twice on the same income or item. Indirect tax is a tax collected by an intermediary (such as a store) on behalf of the person who actually is required to pay (such as a customer)
NAICS replaced the four-digit SIC code with a six-digit code, and it provided more flexibility in handling emerging industries (for example, the NAICS system more generally allows for "Other..." categories across industry groups). The new codes were implemented in Canada and the United States in 1997 and in Mexico one year later.
The Census Bureau releases sector-by-sector statistics on the number of establishments, total business activity, annual payroll, and number of paid employees. A standardized classification of the economy into sectors makes it possible to compare census results over time.
The first BID was the Bloor West Village Business Improvement Area, established in Toronto in 1970 as an initiative by local private business. [2] The first BID in the United States was the Downtown Development District in New Orleans established in 1974, and there were 1,200 across the country by 2011. [3]