For several years, the Standard Industrial Classification Manual (1987), prepared by the Office of Management and Budget, has provided the necessary guidance as to product classes for classifying depreciable personal property for like-kind exchange purposes.1 On August 12, 2004, the Department of the Treasury published temporary and proposed regulations replacing the Standard Industrial Classification (SIC) System with the North American Industrial Classification system.2
Harl, Neil E.
"New Rules on Like-Kind Exchanges with Personal Property,"
Agricultural Law Digest: Vol. 15
, Article 1.
Available at: http://lib.dr.iastate.edu/aglawdigest/vol15/iss17/1