How to start a certified public accounting firm in Idaho
Requirements for Idaho Certified Public Accountant License
What are the requirements to become a CPA in Idaho?
The Idaho State Board of Accountancy (ISBA) regulates the practice of accounting in Idaho. You must be a licensed Certified Public Accountant (CPA) to practice public accounting in Idaho.
You can obtain your CPA license by examination, transfer of grades, or transfer of licensure.
Most commonly, applicants are admitted by examination. To become a CPA by examination, you must complete 150 semester hours of college education and receive a baccalaureate degree from an accredited college or university, pass all four sections of the Uniform CPA Exam, meet experience requirements, and be of good moral character. Use the Application for License which is available on the ISBA website.
CPAs can also be admitted to practice in Idaho by reciprocity. Candidates who have are licensed and have been practicing in another state for four years may be admitted to practice in Idaho by filling out the Application for License by Reciprocity or Transfer of Grades.
Applicants who have passed the exam in another state may apply for transfer of grades. They should also complete the Application for License by Reciprocity or Transfer of Grades.
How do you get an Idaho CPA license?
Once you meet the qualifications for CPAs, submit the application, documentation, and fees to the ISBA.
Idaho State Board of Accountancy
PO Box 83720
Boise, ID 83720-0002
How much does the permit to practice public accounting in Idaho cost?
Application initial licensure: $120 Application for initial exam: $100 Annual renewal: $150
The CPA exam fees are around $800. Applicants who have to re-take any portions will have to pay the fees again.
Are there any continuing education requirements?
Idaho accountants must complete eighty hours of continuing professional education every two years.
How do I get the Board of Public Accountant’s approval to set up my business?
Under Idaho law, the office of each sole practitioner or CPA firm in Idaho must register with the ISBA in order to provide attest services or compilation reports or use the titles “CPAs,” “CPA firm,” “LPAs” or “LPA firm.” The Firm Registration form is available on the Idaho Board of Accountancy website. Complete the form and submit it to the ISBA.
Does an Idaho Accounting Firm need to be a certain type of business entity?
In addition to becoming an Idaho licensed accountant, you may want to start your own firm. Registering your Idaho business entity with the Secretary of State offers many benefits and protections for accountants. Idaho allows accountants to choose the entity that best suits their needs. Accountants may form standard partnerships, corporations, and limited liability companies. Accountants may also create professional corporations (PC) and professional limited liability companies (PLLC). These professional entities allow licensed individuals to form a corporation or LLC for the purpose of practicing their profession. Shareholders must also be licensed to render accounting or allied services.
Idaho does not require entities to include a description of the service (such as the word “accountant” or “CPA”) in the business name.