Wyoming CPA Requirements

How To Become a CPA in Wyoming: Step By Step Guide

wyoming-cpa-exam-requirementsLearn How to Become a Licensed Certified Public Accountant In Wyoming

Wyoming is the least populous state in the US with an economy predominantly dependent on mineral extraction, oil, and natural gas with high wage-paying jobs.

Wyoming is also one the most business-friendly tax states in the US, as it does not have a corporate income tax. Thus, there is a major demand for CPAs in Wyoming.

The Wyoming qualifications to become a CPA are fairly standard among other states, but there are a few unique characteristics. Let’s look at the WY CPA requirements and what you will need to do in order to take the CPA exam and become a certified public accountant in Wyoming.

Basic Requirements For CPA Certification in Wyoming

To qualify for the CPA exam and become a licensed CPA in Wyoming, the State Board requires the candidate to meet the following requirements:

  • Must be above 18 years of age
  • Must be a Wyoming state resident
  • Must have a valid social security number
  • Must a Bachelor’s degree in accounting with 150 semester hours
  • US citizenship not required

Interestingly Wyoming has a stricter residency requirement than most states. In order to be considered a resident, Wyoming requires you to meet the following:

  • Hold a Wyoming driver’s license
  • Work in Wyoming
  • Have Wyoming state address
  • Attend a Wyoming University
  • Have accepted a job offer to work in the state at least six months within the application date

If you do not meet these requirements, you will not be considered eligible to sit for the CPA exam in Wyoming.

Wyoming CPA Certification Education Requirements

Wyoming state requires candidates to complete their university education and graduate with a degree before applying to sit for the CPA exam. This is a bit different than other states that let you sit for the exam before you graduate. Wyoming also requires you to complete at least 150 semester credit hours before you are eligible to take the CPA exam.

Out of the 150 credit hours, 24 semester hours of the graduate and undergraduate degree should be in accounting courses including:

  • Ethics
  • Financial reporting and accounting
  • Accounting information systems
  • Tax research
  • Fraud examination
  • Internal controls and risk assessment
  • Taxation
  • Cost of Managerial

In addition, candidates should complete 24 credit hours in business-related courses at the graduate or undergraduate level including:

  • Business Law
  • Business Communications
  • Finance
  • Ethics
  • Statistics
  • Management
  • Technical writing
  • Marketing

The Wyoming CPA Board requires that the candidate earn their degree from an accredited school. If you are from Wyoming, the only accredited college that they accept coursework from is the University of Wyoming. This doesn’t not apply if you attended college out-of-state.

Candidates that graduated from a foreign institution should have an accepted agency evaluate and verify their transcripts. You should contact the WBCPA to find the accepted bodies that can certify your transcripts.

It’s important to find out if your college courses meet the Wyoming CPA requirements before you apply to take the exam. Otherwise, you might be required to pay extra fees for reapplication.

Wyoming CPA Exam Requirements

If you meet the WBCPA’s education requirements, you will be eligible to sit for the CPA exam by paying the $110 application fee or $50 for re-registration fee. You should also send proof of identity to the WBCPA and have your university or college send your transcripts directly to the board. Your transcripts must be sent directly to the board. If they are opened or tampered with in any way, they won’t accept them.

If the board approves your application, you will receive a Notice to Schedule (NTS), which you will use to schedule to sit for the exam in whichever order you prefer. There are four sections of the exam that you can schedule independently of one another by contacting the Prometric testing center through their website.

WY CPA Exam Costs & Fees

The total cost of the CPA exam in Wyoming is approximately $853.08.

  • 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: $110

The cost per section depends on the exam duration, and that is why AUD and FAR cost more. You will have 18 months from the time you take the first part to complete all four sections.

Although you can take more than one section at a time, it is advisable not to sign for all four parts once because this might cost you more if the NTS expires before completing the parts. You might be required to re-register by paying $50.

Wyoming CPA License Requirements

For initial candidates, the CPA licensure process can be complicated, but it’s not that bad. After you have pass the CPA exam, you can apply to be a licensed CPA in Wyoming. Here are the requirements that you must meet to get your license:

  • Pass all four sections of the CPA exam with a score of 75 within 18 months.
  • Submit all the necessary paperwork to the WBCPA including, the license application, transcripts, and work experience proof
  • Pay the certification/license fee together with the application.
  • Pass the AICPA Professional Ethics exam with a 90% score.
  • Complete 2,000 or one-year work experience in accounting in public accounting, academia, government, and industry.

Work Experience Requirements

The WBCPA requires candidates to complete 2,000 or one year of professional experience supervised by a licensed CPA. You should demonstrate competency in at least one of the following concentrations:

  • Auditing services
  • Accounting reporting
  • Financial advisory
  • Consultancy
  • Management or cost accounting
  • Attestation

The WBCPA can consider the part-time experience of around 8 hours in a day. The experience includes service areas offered in audit, accounting, tax, consultancy, and financial advisory.

Interestingly, if the WBCPA cannot verify your experience, they can use equivalent experiences such as expense account analysis, budgeting, financial statement preparation, and payroll management.

Wyoming also allows CPA candidates to use professional academic experience as part of their work qualifications. If you are employed at an accredited university and teach a 1-on-1 CPA study class, you may be able to use this as your work experience.

Wyoming CPA License Application & Renewal

After you obtain your CPA license, you will need to keep it active. You should renew your license annually and complete 12o hours of Continuing Professional Education (CPE) every three years.

Make sure to keep your CPE certificates because you will need to report the your CPE hours to the state board with your annual renewal application.

The renewal process is easy. You simply log on to your WBCPA account and fill out the renewal application. Click the active renewal box and upload your CPE certificates. You will also need to submit your annual renewal fee.

That’s it. That’s all you need to do to renew and maintain your CPA license.

Wyoming CPA Salary

The average Wyoming CPA salary is $70,382 per year. This average varies depending on location, company size, and private vs public accounting position.

Wyoming is a great place to work for certified public accountants. Besides the natural beauty of the state, it offers numerous business benefits to CPAs. The economy is rich with oil, gas, and agriculture industries that offer many employments opportunities for accountants.

Additional Wyoming CPA Resources

Here are a few important resources for learning how to take the CPA exam in Wyoming and become a certified public accountant.