NAICS Codes

Forum|Forum|2 years ago
January 22, 2024
3 replies
15 views

Why has proseries still not updated the NAICS codes in business returns to reflect the updated charts? The business code number should match the state report filings but proseries only has limited numbers. This affects Franchise Tax rates and sales tax liability issues.

ProSeries Professional

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dascpa

Level 11

I'm guessing, in the scope of the all the changes that need to be made to Fed and State tax returns, this one is not high priority. I found it just as easy to Google the correct code. It was actually faster than the long worksheet they have.

K

kgallandAuthor

Level 4

The issue is Proseries won't accept the correct codes, it only includes a limited list that you can choose from. Codes changes in 2020 I think.

Just-Lisa-Now-

Intuit Community Champion

@kgalland wrote:

The issue is Proseries won't accept the correct codes, it only includes a limited list that you can choose from. Codes changes in 2020 I think.

The "correct" codes are the ones in that awful IRS list were supposed to dig through, the IRS doesnt necessarily use the same business codes as NAICS.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

Just-Lisa-Now-

Intuit Community Champion

I thought IRS had their own codes and dont necessarily use the ones we find at NAICS.

Ive had a few last year that Id used from NAICS (that were more exact) that Sch C kept spitting back out at me and I had to dig through that horrible IRS list to find something similar to use.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪