Practice Privileges.
Additional information on Practice Privileges is available at NMSA 1978, § 61-28B-26 and N.M. Code R. § 16.60.3.14.
Effective July 1, 2008, an individual whose principal place of business or residence is not in New Mexico may exercise all the practice privileges of New Mexico CPAs without the need to obtain a certificate, give notice or pay a fee to the New Mexico Public Accountancy Board if the individual: - Holds a valid license from a substantially equivalent jurisdiction; OR
- Has the following individual CPA qualifications:
- Holds a valid license as a CPA from any state;
- Has at least 150 semester hours of college education, including a baccalaureate or higher degree, conferred by a college or university acceptable to the Board;
- Achieves a passing grade on the Uniform CPA Exam; and
- Possesses at least one (1) year of experience, including any type of service or advice involving the use of accounting, attest, compilation, management advisory, financial advisory, tax or consulting skills, which may be obtained through government, industry, academic or public practice, all of which can be verified by a licensee.
Please Note: A person who passed the uniform CPA examination and holds a valid license issued by any other state prior to January 1, 2012, may be exempt from the 150-semester-hour education requirement.
A CPA whose principal place of business or residence is not New Mexico and who has a valid certificate/license from a state that is not substantially equivalent must obtain an individual substantial equivalency evaluation through NASBA's CredentialNet service prior to exercising practice privileges. Individuals who are not licensed in a substantially equivalent state and do not have substantially equivalent individual qualifications must apply for a reciprocal license.
Click Reciprocal Licensure above for additional information.
An individual who qualified for practice privileges may offer or render professional services whether in person or by mail, telephone, or electronic means without the need to notify the New Mexico Public Accountancy Board or remit a fee.
Consent to Jurisdiction A person exercising the practice privilege and the firm that employs the licensee simultaneously shall consent, as a condition of exercising the practice privilege: - To submit to the personal and subject matter jurisdiction and disciplinary authority of the New Mexico Public Accountancy Board;
- To cease offering or rendering professional attest services in New Mexico in the event the license from the state of the person's principal place of business is no longer valid;
- To fully comply with the 1999 New Mexico Public Accountancy Act and related Board rules; and
- To appointment of the state board that issued the license as agent upon whom process may be served in an action or proceeding by the New Mexico Public Accountancy Board against the licensee.
- A person exercising the practice privilege shall cease offering or rendering professional attest services in New Mexico in the event the license from the state of the person's principal place of business is no longer valid.
Firm Mobility Any CPA acting as a sole proprietor, partner, shareholder or member of a legal business entity who performs or offers to perform accountancy for a client or potential client by holding themselves out to the public as a CPA or RPA firm that does not have an office in New Mexico, but offers or renders accounting services including but not limited to audits or attest services, compilation services and other non-attest professional services in this state are not required to have a New Mexico firm permit. The firm is considered to have firm mobility if the firm meets the requirements pursuant to §61-28B-13. Firm permits to practice, attest experience, peer review of the 1999 New Mexico Public Accountancy Act. Performance of services by an eligible individual or firm will not require a firm permit from the state board of New Mexico, so long as the firm is actively licensed in good standing in the home jurisdiction. Firms must meet ownership and peer review requirements of the mobility jurisdiction.
Consent to Jurisdiction for Firm Mobility - The firm must agree and comply with the following:
- The firm performs such services through individuals with practice privileges; and
- The firm is licensed to perform such services in the state in which the individuals with practice privileges have
their principal place of business. - To the appointment of the state board that issued the license as agent upon whom process may be served in an
action or proceeding by the New Mexico Public Accountancy Board against the licensee. - To submit to the personal and subject matter jurisdiction and disciplinary authority of the New Mexico Public
Accountancy Board. - As a condition of this privilege, the firm consents to comply with the 1999 New Mexico Public Accountancy Act,
Sections 61-28B-1 et. seq. and all rules and regulations of the New Mexico Public Accountancy Board.
NOTE Same Level of Services: A CPA or RPA performing services through mobility may only perform the same level of services (attest or non-attest) in the mobility jurisdiction as he or she is permitted to perform in the home jurisdiction. If the firm’s license in the home state or jurisdiction becomes invalid, or the firm in its home state or jurisdiction ceases to offer or render specific professional services performed or promoted in this state; or, if the license/firm permit is otherwise restricted in the state or jurisdiction of its principle place of business, it must cease performing or offering to perform accountancy services for any client or potential client by holding themselves out to the public as a CPA or RPA firm in the state of New Mexico.
Please note the following if you are coming from one (1) of the jurisdictions listed: - An Alabama certificate holder may not hold out or practice as a CPA in a mobility jurisdiction.
- A Connecticut certificate holder may not hold out or practice as a CPA in a mobility jurisdiction.
- An Illinois certificate or registered certificate holder may not hold out or practice as a CPA in a mobility
jurisdiction. - Both a Hawaii CPA license and firm permit are required in order to hold out or practice as a CPA in a mobility jurisdiction.
- A Kansas certificate holder may not hold out or practice as a CPA in a mobility jurisdiction.
- Both a Montana CPA certificate and firm permit are required in order to hold out or practice as a CPA in a
mobility jurisdiction. - Both a Nebraska CPA certificate and firm permit are required in order to hold out or practice as a CPA in a mobility jurisdiction.
- An Oklahoma registrant must hold an active firm permit in order to hold out or practice as a CPA in a mobility jurisdiction
NOTE regarding Substantial Equivalency: A CPA or RPA whose principal place of business or residence is not New Mexico and who has a valid certificate/license from a state that is not substantially equivalent must obtain an individual substantial equivalency evaluation through NASBA's CredentialNet service prior to exercising practice privileges. Individuals who are not licensed in a substantially equivalent state and do not have substantially equivalent individual qualifications must apply for a reciprocal license. |
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