Maryland CPA Requirements: A Comprehensive Overview
For aspiring CPAs in Maryland, understanding the state-specific requirements is crucial for achieving licensure. Here's an in-depth guide to the CPA Exam and license requirements in Maryland:
Social Security, Age, Citizenship, and Residency Requirements
Social Security Number: Required for CPA licensure.
Minimum Age: 18 years old.
Citizenship: U.S. citizenship is not mandatory.
Residency: Not required for the CPA Exam or licensure.
Education Requirements for Licensure
Credit Hours: 150 hours, including a Bachelor’s degree.
Specific Coursework:
Bachelor's degree or higher from an accredited institution.
At least 120 semester hours for CPA Exam eligibility (150 hours for licensure).
Required course breakdown:
Accounting and Ethics: A minimum of 30 semester hours in accounting and ethics, including specific courses in auditing, cost/managerial accounting, U.S. Federal Income Tax, financial accounting, and an ethics course.
Business-Related Courses: 21 semester hours required, covering 5 out of 9 specific areas including statistics, economics, business finance, management, marketing, U.S. business law, business communication, quantitative methods, and computer science/information systems.
Work Experience Requirements
Duration: 1 year (or 2,000 hours) of professional experience.
Supervision: Must be verified by a licensed CPA.
Nature of Work: Can include various accounting-related services in public practice, government, private industry, or academia.
CPA Ethical Exam Requirements
Mandatory: Yes, candidates need to complete the AICPA's Professional Ethics Course.
Passing Score: Minimum of 90%.
International CPA Examination Program
Participation: Maryland is a participant, facilitating non-U.S. citizens to become CPAs.
Credential Evaluation: International candidates must have their education evaluated by NASBA's International Evaluation Services (NIES) or Foreign Academic Credentials Service (FACS).
Maryland CPA Exam & Licensing - Cost and Fees
Initial Application Fee: $67.
Exam Fees: $238.15 for each section.
Total Exam Cost: Approximately $1,020.
License Fee: Upon passing the exam, gaining experience, and completing the ethics requirement, a $22 licensing fee is payable for obtaining the CPA license in Maryland.
License Renewal
Renewal Period: Every two years from the issuance date.
Renewal Fee: $56 (a higher fee applies if the license has expired).
Continuing Professional Education (CPE): 80 hours required every two years, including at least 4 hours in ethics.
CPA Exam: Dates, Score Release, and Scheduling
Year-Round Availability: Candidates can schedule exams based on their convenience.
Score Release: Announced biennially by the AICPA; scores available within 48 hours of release dates.
Application Process:
Apply through CPA Central, NASBA's examination portal.
Obtain Authorization to Test (ATT) from the Maryland State Board.
Receive a Notice to Schedule (NTS) and schedule the exam with Prometric.
Pass all four sections of the exam.
This guide provides the essentials for becoming a CPA in Maryland. For any specific queries or assistance, feel free to ask!