Minnesota CPA requirements
Wondering how to become a CPA in Minnesota? The first thing you'll want to do on the is check the requirements with to become a CPA in Minnesota, as the Minnesota Board of Accountancy will ultimately license you.
Minnesota CPA Exam requirements
Getting a CPA in each state mandates different requirements for taking the CPA Exam and becoming a licensed CPA. In order to be eligible to take the CPA Exam in Minnesota, candidates must meet specific eligibility requirements.
- Candidates are required to be a resident of Minnesota, attend school in Minnesota in which they are seeking education designed to qualify for the CPA Exam, or work in Minnesota for the purpose of obtaining qualifying experience.
- In the case of a nonresident, the application must be supported by a statement that the candidate is currently, or will have been within 90 days preceding or following the date of the CPA Exam, a resident of Minnesota, attending a school in Minnesota, or working in Minnesota.
Minnesota CPA Exam education requirements
You may apply 180 days prior to receiving your bachelor's degree (120 hours/credits) from a regionally accredited college or university
- At least 24 semester hours in accounting at the undergraduate level including coverage of, but not necessarily separate courses in:
- Financial accounting
- Auditing
- Taxation
- Management accounting
- At least 24 semester hours of business-related courses or additional accounting courses at the undergraduate or graduate level.
If you are within 180 days of your anticipated degree graduation date at the time of application, you must:
· submit an official transcript from each school you attended.
· submit to CPAES a completed Certificate of Enrollment (COE) form. This form is evidence that you are currently enrolled and that: you will not sit for all or part of the examination prior to 90 days of the anticipated degree graduation date; and all courses and graduation requirements will be completed no later than 120 days following the actual date you take the first section. The form must be signed by an authorized official of the college and signed by the you.
· The official transcript(s) and COE form must be submitted directly from your school.
Minnesota CPA license requirements
In order to be eligible for CPA licensure in Minnesota, applicants must meet the following requirements:
- Pass all four sections of the CPA Examination
- All candidates must also take and pass an ethics exam within two years preceding initial application for the certificate.
- A total of 150 semester hours from an accredited institution that includes a total of 48 hours in business-related subjects and intermediate or higher accounting coursework (counting the 24 accounting credits originally earned to sit for the exam).
- All candidates for a Minnesota license must have one full year of work experience.
Minnesota CPA experience requirements
Experience consists of providing any type of services or advice using accounting, attest, compilation, management advisory, financial advisory, tax, or consulting skills.
One year of experience that consists of full or part-time employment that extends over a period of no less than one year and no more than three years, and includes no fewer than 2,000 hours of performance of services as described above.
- Acceptable experience includes employment in industry, government, academia or public practice.
- Your experience must be verified by an Active status CPA with a valid certificate (as defined by MN Rules 1105.6550 Part A) or an unexpired Inactive CPA
Minnesota CPA license renewals
Your initial CPA certificate expires on Dec. 31 of the year it was issued. Renew your CPA certificate annually through the BOA by Dec. 31.
All Active and Inactive CPAs (and firms) must renew yearly by December 31 every year. The renewal window each year opens in the fall.
NOTE: There is no grace period for unlicensed practice/holding out. All licenses and permits expire on December 31 of the given year.
Minnesota CPA CPE requirements
The CPE reporting (or "fiscal") year runs from July 1 to June 30. CPE must be earned by June 30 and reported by December 31 each year. Nonresidents seeking exemption from Minnesota CPE requirements must claim that exemption every year by December 31.
- There are both single reporting year and rolling three-year CPE requirements.
- Each reporting year you must earn a minimum of 20 hours.
- In any given three-year reporting period, CPAs must complete a minimum of 120 hours, with eight of those hours being in regulatory (technical) or behavioral (nontechnical) ethics.
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