Minnesota CPA Exam and License Requirements

Publication Date :

14 May, 2023

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Minnesota CPA Exam

Minnesota CPA (Certified Public Accountant) License is a legal permit bestowed on qualified accountants to practice the profession in the state. With its strong economy and bright business outlook, Minnesota offers a rewarding career to professionals armed with a CPA license. So, to acquire the license and enjoy a fulfilling career, Minnesota CPA candidates must observe the state-specific protocols for exam, education, and other requirements.

The U.S. jurisdiction pursues the one-tier licensing procedure. This system eliminates the need to obtain a CPA Certificate after passing the CPA Exam. Ideally, you must meet the stipulated education and qualifying experience before applying for the CPA license in the state.

The state mandates the Minnesota Board of Accountancy (BOA) to act as the licensing body for CPAs. Note that the jurisdiction also partakes in the International Examination Program. It implies that candidates who have established their eligibility through it can take the CPA Exam at international locations.

Here are the specifics of the Minnesota CPA exam and license requirements.

Particulars	Minnesota CPA Exam Requirements	Minnesota CPA License Requirements
Minimum Age	None	None
U.S. Citizenship	Not Required	Not Required
Minnesota Residency	Required	Required
Character Proof	Required	Not Required
Social Security Number	Not Required	Required
Education	Bachelor’s degree	150 semester hours with a bachelor’s degree
Exam	Score a minimum of 75 points in each of the 4 exam sections	Score a minimum of 75 points in each of the 4 exam sections
Experience	Not Required	1 year
Ethics Exam	Not Required	Pass AICPA Professional Ethics Exam

Contents

Minnesota CPA Exam Requirements

Eligibility Requirements
Fees
Required Documents
Examination Process

Minnesota CPA License Requirements

Education Requirements
Exam Requirements
Experience Requirements
Ethics Requirements

Continuing Professional Education (CPE)

Minnesota Exam Information & Resou rces

Minnesota CPA Exam Requirements

The Uniform CPA Examination is a computerized test bifurcated into four sections, each four-hour long. The licensure test examines your knowledge and competence in handling the responsibilities as a CPA.

The American Institute of Certified Public Accountants (AICPA) and the National Association of State Boards of Accountancy (NASBA) come together to design and conduct the CPA Exam. Candidates have a rolling 18-month period to pass all exam sections. This period begins from the date they take the first passed exam section.

Each exam section has five testlets with multiple-choice questions (MCQs), task-based simulations (TBSs), and written communication tasks (WCTs). Bear in mind that each candidate must score a minimum of 75 points on a scale of 0-99 in each CPA exam section to qualify.

Eligibility Requirements

General Requirements

Be a Minnesota resident with required education or qualifying experience obtained in the state. Non-resident candidates must submit the residency proof within 90 days preceding or following the CPA exam date.
Be of good moral character.

Education Requirements

Education requirements are based on the accreditation of the academic institution where you acquired the degree. You must meet one of the following requisites:

Particulars	Option 1	Option 2	Option 3	Option 4
Degree	A graduate degree with a concentration in accounting	A graduate degree	A baccalaureate degree	At least a baccalaureate degree
Degree-Providing Academic Institution	Accounting department or program	A business school or college of business	A business school or college of business	Accredited educational institution
Accreditation level	Level three	Level two	Level two	Level one
Accreditation Agency	An agency listed with the United States Department of Education	An agency recognized by the Board	An agency listed with the United States Department of Education	-
Accounting Hours	-	Minimum 24 semester hours in undergraduate-level accounting covering financial accounting, auditing, taxation, and management accounting subjects	Minimum 24 semester hours in undergraduate or graduate-level accounting covering financial accounting, auditing, taxation, and management accounting subjects	Minimum 24 semester hours in non-elementary level accounting covering financial accounting, auditing, taxation, and management accounting subjects
Business Hours	-	Minimum 15 semester hours in graduate-level accounting covering financial accounting, auditing, taxation, and management accounting subjects	Minimum 24 semester hours in undergraduate or graduate-level additional accounting or business-related courses	-
Accounting and Business Combination Hours	-	An equivalent combination	-	-

Fees

Initial candidates must pay the application fee and the examination fees. At the same time, re-examination candidates must pay the registration fee and the examination fees.

Particulars	Examination Fees	First-time Applicant Fees	Re-examination candidate Fees
Application Fee (non-refundable)	-	$170	-
Registration Fee (non-refundable)	-	-	$85
Exam sections	-	-	-
AUD	$238.15	-	-
BEC	$238.15	-	-
FAR	$238.15	-	-
REG	$238.15	$952.6	$952.6
Total Fees	$952.6	$1,122.6	$1,037.6

You can’t withdraw from the exam or request a Notice-to-Schedule (NTS) extension. So, ensure to schedule and sit for the applied sections within the NTS expiry window (six months). However, note that an NTS extension or a partial exam fee refund is possible in an emergency.

Required Documents

NASBA’s CPA Examination Services (CPAES) requires the submission of the following documents.

Know that photocopied transcripts are considered unofficial and, therefore, unacceptable.

Examination Process

You must apply through NASBA’s CPAES to take the CPA Exam.

Visit CPA Central, NASBA’s online application system, and create an account
Submit the online application and pay the application and examination fees.
Mail transcripts and other documents to NASBA.
On determining your eligibility, NASBA issues the Notice-to-Schedule (NTS).
Using the NTS, you can schedule the desired exam sections with Prometric.

The timeline for fulfilling the education requirement, submitting the application and transcripts, and taking the exam is as follows:

Requirements	Deadline
Apply for the exam	Within 180 days of the expected graduation date
Attempt the first exam section (if all requirements are met except the official transcript)	Within 90 days prior to graduation
Final official transcript submission	Within 150 days of attempting the first exam section
Fulfill the education requirements	Within 120 days after attempting the first exam section

Minnesota CPA License Requirements

The eligible Minnesota CPA candidates need the following to apply for the CPA license:

Apply for the CPA License through Minnesota BOA. Refer to the state board website for the complete process.

Education Requirements

Minnesota CPA licensure applicants must earn 150 semester hours from an institution accredited by:

Accrediting agency (regional or national) recognized by the United States Department of Education
Association to Advance Collegiate Schools of Business (AACSB)
Accreditation Council for Business Schools & Programs (ACBSP)

To obtain the qualifying hours, applicants must fulfill one of the following requirements:

Particulars	Option 1	Option 2	Option 3
Total Hours	150 hours	150 hours	150 hours
Academic Institution	Four-year degree-granting college or university	Business school or college of business	Accounting program or department
Accreditation	National or regional accreditation	AACSB or ACBSP accreditation	AACSB or ACBSP accreditation
Accounting Hours	24 semester hours of non-introductory level accounting courses including financial accounting, auditing, taxation, and management accounting subjects	-	-
Business Hours	24 semester hours of undergraduate or graduate-level courses in business-related subjects or graduate-level accounting courses	-	-

Know that maximum of six internship credits is counted toward the 48-semester hour requirement. Moreover, you can include additional internship credits toward the 150-hour requirement.

Exam Requirements

Ensure to apply for the CPA exam after fulfilling the degree requirement. You must complete the test with at least 75 points in each part. Further details are specified in the Minnesota Exam Requirements section.

Experience Requirements

Minnesota CPA aspirants must earn one year of full-time or part-time work experience. It includes gaining at least 2000 hours of service within 1-3 years. Moreover, an active CPA must verify the work experience.

Qualified Services	Qualified Areas
Accounting	Public
Attest	Accounting
Compilation	Industry
Management advisory	Education
Financial advisory	Government
Tax	-
Consulting	-

Paid internships (not included in the education requisite) are also counted toward the required employment. Also, you may obtain work experience while sitting for the CPA exam.

Ethics Requirements

Candidates must pass the AICPA-developed self-study ethics exam within two years before the licensure application date. They may take up the ethics exam any time before or after passing the Uniform CPA Examination.

Here is all you need to know.

After successfully passing the ethics exam, request AICPA to send your scores to the Minnesota Board.

Continuing Professional Education (CPE)

To maintain the CPA license, Minnesota candidates must gain 120 CPE credit hours every three years. At least 72 qualifying hours must be from the board-approved providers.

Let’s view all the details.

Particulars	Details
Renewal Date of License	December 31 (Annually)
CPE Reporting Period	July 1-June 30 (Triennial rolling)
Reported annually on December 31
Total CPE Credit hours required	120 hours
20 hours per year
Ethics Requirement	8 hours in behavioral (non-technical) or regulatory (technical) ethics in the rolling triennium
Other Subject Area Requirements	Maximum 60 hours in technical subjects
Credit Limitations	Instruction	Maximum 60 hours
Authored Published Materials	Maximum 60 hours
Group/Blended Study	Minimum 24 hours
Blended Learning	Providers must be recognized by the NASBA National Registry of CPE Sponsors
Nano Learning	Providers must be recognized by the NASBA National Registry of CPE Sponsors
Non-resident Licensee Requirement	Licensees must request an exemption by December 31
Principal place of business with CPE Requirements	Meet state-specific CPE Requirements
Principal place of business without CPE Requirements	Meet Minnesota CPE Requirements

Please note that there are only four Prometric testing centers in the state. Hence, attempt your CPA exam at the nearest one for a comfortable testing experience. Moreover, you can always visit the Minnesota State Board, AICPA, or NASBA website to inquire about the CPA exam or license requirements.

Gaining the Minnesota CPA title will offer you a satisfying career with a high salary and several specialization opportunities. However, ensure to keep satisfying the CPE requirements to enjoy its benefits and provide consistent quality services. Click here to learn more about CPEs for CPA