How To Become a CPA in Nevada: Step By Step Guide
Nevada, nicknamed the Silver State, is known for its tourism industry with its unique gambling and resort attractions found nowhere else in the country. Ranked #1 in infrastructure, NV is a business friendly state.
Nevada is also a great state to start your professional accounting career. With no state income tax and booming aerospace and technology industries, there is plenty of demand for certified public accountants.
Before you start your CPA career, you’ll need to meet the minimum CPA qualifications. Let’s look at the NV CPA requirements to sit for the CPA exam, so you can become a licensed CPA in Nevada.
Minimum Nevada CPA Requirements for Certification
Aspiring CPA candidates must fulfill the following basic requirements to take the CPA exam and become a licensed certified public accountant in Nevada:
- Must be a Nevada Resident
- Must have a social security number
- Must complete a bachelor’s degree (150 credits hours)
- Fulfill at least 2-years of public accounting work experience
- Minimum Age: not required
- US Citizenship: not required
Unlike many other states, Nevada does require CPA candidates to be state residents in order to qualify for the CPA exam. On the other hand, there are no minimum age or US citizenship requirements to become a certified public accountant in Nevada.
Nevada CPA Certification Education Requirements
As is the case in other states, aspiring CPAs must fulfill specific education requirements to sit the Uniform CPA exam in Nevada. CPA candidates must complete an undergraduate degree with at least 150 semester hours before they are eligible to take the CPA exam.
Of these 150 credit hours of coursework, NV requires candidates to take specific courses in a variety of subjects and areas of study.
Candidates must complete 30 hours of accounting courses covering the following:
- 9-hours of financial accounting
- 3-hours of cost accounting
- 3-hours of Federal income tax
- 12-hours of electives in Accounting
General Business Coursework
CPA candidates must also complete 24 semester hours in business administration courses majoring in:
- Business Law
- Data processing
- Business Ethics
The academic credentials should be from an accredited learning institution, including CLEPs online and community colleges. Make sure to get your education credits approved by the NV State Board before applying to sit for the CPA exam. Also, check with the state board to see if you can apply for college credit for using an approved CPA exam prep guide. Some universities allow students to take a CPA degree course that includes an exam study section. This could save you some time studying for the exam while you are still in college.
If your credits don’t meet the minimum Nevada CPA requirements, you may have to re-apply for the exam and pay an additional fee.
Nevada CPA Exam Requirements
CPA candidates who complete an bachelor’s degree with at least 150 college credit hours qualify to take the CPA exam in Nevada.
Unfortunately, Nevada does not allow students to sit for the exam before they graduate or even before they complete the 150 credit hours. You must finish all of your college courses before you can apply to take the exam.
This is why most Nevada CPA candidates tend to pursue master’s degrees in accounting, finance, or MBA studying. They are required to finish these extra courses before they can take the exam, so they just add on another degree program.
Once you meet the CPA exam education requirements, you can send in your application to the State Board. Upon approval, they will send you a NTS that allows you to schedule your first exam section.
It’s a good idea to only apply for the CPA exam sections that you intend to take within six months upon the Notice to Schedule. Otherwise, your NTS will expire and you will have to pay additional fees.
NV CPA Exam Costs & Fees
The total cost of taking the CPA exam in Nevada is $743 plus an initial application fee of $100. Here is a list of the cost per CPA exam section:
- 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: $100
The re-examination fee varies depending on the portion of the CPA exam one is taking.
The CPA exam fee must be paid via the National Association of State Board of Accountancy’s payment coupon. Once payment is made, the board will issue a Notice to Schedule the exam.
Nevada CPA License Requirements
The process of obtaining the Nevada CPA license is straight forward. Future CPAs must meet the following CPA requirements before they qualify to become a licensed Certified Public Accountant in Nevada:
- Complete an Undergraduate Degree (150 credit hours)
- Pass the Uniform CPA exam
- Pass the Ethics exam
- Complete a 2-years of work experience in public accounting
CPA candidates who meet the above CPA requirements can submit their application to the board for verification. All the necessary documents should follow the application. Once an application is approved, the board will send an approval letter via mail, followed by a license number.
Once the license number is issued, candidates can begin practicing as certified public accountants.
AICPA Ethics Exam
As part of the licensure process aspiring CPAs in Nevada are required to take and pass the AICPA Ethics exam. The open-book exam is one of the simplest parts of your CPA journey. However, you should take it serious, as you need a score of 90% to pass.
Work Experience Requirements
The final hurdle to becoming a licensed CPA in Nevada is fulfilling the work experience requirement. In Nevada, CPA candidates must complete at least 4,000-hours working in public accounting. The following skills must be practiced as part of the work experience program.
- Preparing tax returns or giving tax advice
- Providing consulting services about management matters
- Auditing and accounting
The work experience should be completed under the supervision of a licensed, certified public accountant. The supervising CPA must file a report with the candidate’s license application at the end of the work experience program demonstrating the work that was done.
Nevada CPA License Application & Renewal
Nevada CPA license holders must renew their licenses every year by December 31. The renewal process is straight forward and can be completed online through the Nevada State Board of Accountancy website. You will need to submit the following documents with your renewal application:
- Updated contact information
- Proof of CPE credits
- Application fees
As part of the renewal process, holders must have completed 80 hours of continuing professional education each year. The CPE certificates must be kept and submitted to the state board with your annual license renewal application.
Nevada CPA Salary
The average Nevada CPA salary is $71,745 per year with accountants in Las Vegas earning more than $150,000 per year. This puts NV accountants in the top 10% of accounting wage earners in the US. These averages depending widely on the experience, location, and industry of the accountants.
Nevada boasts of some of the best accounting jobs in the U.S. Accountants earn an average of $68,000 a year. The Las Vegas area has the most accounting jobs given the booming gambling sector in the city.
Steps to Become a CPA in Nevada
Becoming a certified public accountant in the silver state is pretty simple. Aspiring candidates only have to:
- Get an education in the state
- Take and pass the uniform CPA exam
- Take and pass the Ethics exam
- Gain the necessary work experience
- Apply for the Nevada CPA license
- Continue education in the state
Additional Nevada CPA Resources
Here is a list of resources you can use to learn how to take the CPA exam in Nevada and become a certified public accountant.