Nevada CPA State-Specific Requirements
Nevada offers an attractive environment for Certified Public Accountants (CPAs), with favorable tax laws and a growing business community. If you're looking to establish a career as a CPA in Nevada, it's essential to understand the state's specific requirements for CPA examination and licensure. Here's a detailed guide to help you navigate the process.
Educational Requirements
Nevada mandates specific educational qualifications for CPA candidates:
Bachelor’s Degree: A bachelor’s degree in accounting is required. If your degree is not in accounting, you must complete additional coursework, including:
6 credits in financial accounting
3 credits each in cost accounting, auditing, federal income tax, and business law
Total Credits: For licensure, you must accumulate a total of 150 credits, including 9 credits in accounting electives and 24 credits in non-accounting business courses.
Work Experience Requirements
Nevada requires CPA candidates to complete 4,000 hours (approximately two years) of work experience under a licensed CPA's direct supervision. This experience must be diverse and increasingly complex, and can be in various fields such as accounting, attestation, management advisory services, tax consulting, and more.
Ethics Exam
Nevada mandates the completion of an Ethics exam within three years of your application. You can take this exam from any provider of continuing education that covers the Rules of Professional Conduct.
International CPA Examination Program
Nevada participates in this program, allowing international candidates to take the CPA Exam. Your educational credentials must be evaluated by NASBA International Evaluation Services (NIES) to ensure they meet Nevada's requirements.
Licensing Fees
The cost associated with the CPA examination and licensing in Nevada is as follows:
Initial Application Fee: $100
Examination Fees (per section):
AUD: $238.15
BEC: $238.15
FAR: $238.15
REG: $238.15
Total for all sections: $1,052.60
License Application Fee: $240 (after passing the exam and completing work experience)
Re-exam Application Fee: $50 (non-refundable)
License Renewal
Nevada CPAs must renew their license annually by January 31, with licenses expiring each year on December 31. The renewal fee is $120 online or $140 by mail.
Continuing Professional Education (CPE)
Nevada requires 80 CPE hours every two years, including at least four credits in ethics. CPE must be completed by December 31 of the renewal year. Failing to meet CPE requirements results in penalties, ranging from $100 to $1,600, depending on the delay period.
Conclusion
Becoming a CPA in Nevada is a journey of rigorous academic preparation, passing the CPA Exam, fulfilling work experience requirements, and adhering to ethical standards. The path is challenging but rewarding, opening doors to specialized roles in the accounting profession. Remember, continuous learning through CPE is key to maintaining your CPA license and staying current in the dynamic field of accounting in Nevada.