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Dbrazeale
New Member

How to classify Camera Lenses business

A partner and I own camera lenses that we gave to a consignment company to lease out.  We get 60% of the proceeds and the consignment company gets 40%.  We don't own a 'rental' company but we do have an LLC set up to manage the business.  I need help figuring out what business activity code to use.  

 

In simpler terms - we bought an asset (camera lenses) and gave them to another company (written contract) to facilitate the rental income.  We receive a check each month based on how they perform.  

1 Reply
PattiF
Employee Tax Expert

How to classify Camera Lenses business

The code for your business is 423410 from the North American Industry Classification (NAIC) which is used by the census bureau.

 

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