Source: U.S. Census Bureau
Release: Business Formation Statistics
Business Applications (BA) that have a high-propensity of turning into businesses with payroll. The identification of high-propensity applications is based on the characteristics of applications revealed on the IRS Form SS-4 that are associated with a high rate of business formation. High-propensity applications include applications: (a) from a corporate entity, (b) that indicate they are hiring employees, purchasing a business or changing organizational type, (c) that provide a first wages-paid date (planned wages); or (d) that have a NAICS industry code in manufacturing (31-33), retail stores (44), health care (62), or restaurants/food service (72).
See the U.S. Census's FAQs for more details.
U.S. Census Bureau, High-Propensity Business Applications: Total for All NAICS in Kansas [BAHBATOTALNSAKS], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/BAHBATOTALNSAKS, September 24, 2023.