Beginning in November, businesses will start to receive forms for the U.S. Economic Census. The Economic Census is taken every five years and its purpose is to develop a comprehensive portrait of American business. According to the Census Bureau, over 4 million U.S. businesses will have to fill out economic census forms this year. Responses are due by February 12, 2013. The first statistics will be available in December, 2013. If your firm receives a census form, you are required by law to respond. The fine for failure to comply is up to $500 per form. The fine for willfully giving false answers is $10,000, but this is superseded by the sentencing guidelines, which limit the fine to $5,000.
Visit http://www.census.gov/econ/census/ and business.census.gov for more information, examples of how the data are used, and industry and local area business profiles.
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