Wondering if any NAICS expert could point me in the right direction. We have an entity (entity 1-operating company)that is a car dealership. We have a separate entity (diffent company with different EIN #s)(entity 2-real estate holding company) that is affiliated with entity 1 (same owner) that owns the land that the car dealership is on and leases it to entity 1. My thoughts that Entity 1 (car dealership should have a NAICS of 4411 and Entity 2 (land owner) should be 5311.
Is this accurate? Or should entity 2 also have an NAICS code of 4411 due to wanting the real estate holding company to have the same NAICS code as the operating company?
I can tell you that many banks have levels of coding so that for credit concentration purposes they can show that the land leased to the dealership is dependent upon the car dealer industry and should therefore be in that bucket for exposure purposes.