Minnesota CPA Requirements

MN CPA Exam & License Requirements, Qualifications, & Criteria

minnesota-cpa-exam-requirementsHow To Become a CPA in Minnesota: Step By Step Guide

Minnesota, often called the Land of a 10,000 Lakes, is known for its rivers, lakes, and natural wildlife. MN is also a growing economic force, ranking #2 in opportunity.

Minnesota is a perfect state to begin your professional career as an accountant. Home to Mayo Clinic and many Fortune 500 companies in the manufacturing and retail industries, there are plenty of employment opportunities for CPAs.

The initial step to starting your career as an accountants in Minnesota is fulfilling the minimum qualifications. Let’s check out the MN CPA requirements that you will need to meet to sit for the CPA exam and become a licensed CPA in Minnesota.

Minimum Minnesota CPA Requirements for Certification

Prospective CPAs have to fulfill the following key requirements to take the CPA exam and become a licensed certified public accountant in Minnesota:

  • Must have a social security number
  • Must have a bachelor’s degree (120 credits)
  • Accrue 1-year experience in public practice
  • Minimum Age: not required
  • US Citizenship: not required

Unlike in other states, CPA candidates do not need to be a state resident or US citizen to become a CPA in Minnesota.

Likewise, candidates do not need to complete the entire 150 credit hour CPA requirement to sit for the exam. They can sit with 120 credits and must finish the remaining 30 credits after they pass the exam.

Minnesota CPA Certification Education Requirements

Candidates planning to become CPAs in Minnesota must complete at least 150 credit hours in college or university education.

Minnesota offers three different paths to fulfill these 150 credit hours.

  • Master’s Degree in Accounting
  • Master’s Degree in Business
  • Undergraduate in Accounting or Business

Each of these three paths require different amounts of accounting coursework.

Graduate Degree in Accounting

No additional accounting courses are required for this education path.

Graduate Degree in Business

CPA candidates must complete credit hours in both accounting and business courses.

Credit hours should include the following courses of either 24 semester hours of undergraduate courses or 15 credit hour of graduate courses:

  • Financial accounting
  • Taxation
  • Auditing
  • Management accounting

Undergraduate in Accounting or Business

Bachelor degree holders must complete at least 24 semester hours in the following accounting courses:

  • Financial accounting
  • Taxation
  • Auditing
  • Management accounting

Likewise, they will also need to complete at least 24 credit hours of general business coursework.

All of your college courses should be taken at an accredited institution. If your coursework is not accredited, it will not meet the minimum Minnesota CPA requirements and you will need to take additional courses to meet the qualifications.

If you have any concerns about your educational credits, contact the MN State Board of Accountancy.

Minnesota CPA Exam Requirements

Those who meet the essential education requirement can apply to be allowed to take the uniform Certified Public Accountant exam. Under Minnesota laws, aspiring candidates can still apply for the exam as long as they are within 180 days of graduating.

Scheduling of the CPA exam is done through the CPA Examination Service website. One is required to collect the necessary supporting documentation and attach them as part of the application process.

CPA candidates still in college must submit all the official transcripts along with the certificate of enrollment. CPA. Candidates who have already graduated must submit all the official transcripts from all colleges attended along with a passport-sized photo.

A successful application will be communicated by the National Association of State Boards of Accountancy by mail followed by a ‘Notice to Schedule.’

The Notice to Schedule is authorization to apply and schedule a CPA exam.

The application process is only complete upon paying the required CPA examination fees depending on the exam one is taking.

MN CPA Exam Costs & Fees

The total cost of taking the uniform CPA exam in Minnesota is $743 plus an initial $175 application fee.

  • Auditing and Attestation (AUD): $195.35 ‹
  • Business Environment and Concepts (BEC): $176.25 ‹
  • Financial Accounting and Reporting (FAR): $195.35 ‹
  • Regulation (REG): $176.25 ‹
  • Application Fee: $175

The reexamination fee varies depending on the number of sections one is taking.

Minnesota CPA License Requirements

The apex of becoming a public accountant in Minnesota is obtaining a CPA license. Aspiring CPAs applying for licensure must meet basic requirements, which include

Completed 150 semester hours in college or university education

  • Have a bachelors’ degree
  • Taken and passed the Uniform
  • Taken and passed the Ethics exam
  • Completed 1-year work experience
  • Pay the CPA license application fee

Aspiring CPAs who meet the above CPA license requirements can submit all the supporting documents for verification by the board and the fees. The board reviews and approves licensure applications once all requirements are met.

Minnesota Ethics Exam

In addition to the Uniform CPA exam, aspiring CPAs must also take and pass the CPA Ethics exam. The open book exam is not as rigorous as the CPA exam. However, candidates must score more than 90% for a pass.

Work Experience Requirements

Minnesota requires aspiring CPAs to accrue at least one year of experience before licensure. The work experience should not be less than one year or longer than three years. Likewise, it should involve either of the following services.

  • Attestation
  • Accounting
  • Management advisory
  • Compilation
  • Consulting
  • Tax
  • Financial advisory

The work experience could be accrued in public practices, academia, government, or industry. Besides, it should be verified by a licensed CPA. The licensed CPA supervising the work experience should fill out the CPA Experience Verification form.

Minnesota CPA License Application & Renewal

In Minnesota, CPA licensees are required to renew their licenses every three years. During the period, holders must complete 120 hours of continuing professional education.

Minnesota CPA Salary

The average Minnesota CPA salary is $78,550 depending on education and level of experience. The highest CPA salaries are found in the Minneapolis Paul-Bloomington, whereby CPAs earn as much as $75,600.

While the state’s economy relies heavily on agriculture, it also plays host to robust finance, tech, and manufacturing industry. Likewise, demand for CPA’s is always high, given the number of entities requiring accounting services.

With the number of licensed CPAs in the state poised to rise by more than 7% through 2026, there is every reason to become a CPA in Minnesota. The state boasts one of the lowest unemployment rates in the U.S, with over 19 fortune 500 companies.

Steps to Become a CPA in Minnesota

Here are  the steps to become a certified public accountant in Minnesota:

  • Getting an education in the state
  • Taking and passing the Uniform CPA exam
  • Gaining the necessary accountancy experience
  • Applying for the Minnesota CPA license
  • Continuing education in the state

Additional Minnesota CPA Resources

Here are several resources you can use to learn how to take the CPA exam in Minnesota and become a certified public accountant.