Q: Who may qualify for a CPA license in New Mexico?
- Applicant by Examination – an individual who has taken and passed the Uniform CPA Examination as a New Mexico candidate.
- Applicant by Grade Transfer – an individual who has taken and passed the Uniform CPA Examination as a candidate of another state but who has not yet obtained a license to practice in that state.
- Applicant by Reciprocity – an individual who holds a valid CPA license in another state.
Q: How do I obtain my initial CPA license?
All applications for a new license must be approved by the Public Accountancy Board at a Board meeting (meetings are held six times per year). Complete applications must reach the Board office at least two weeks prior to the Board’s scheduled meeting.
Q: Is there a background check requirement?
Q: If I am licensed in another state and intend to practice in New Mexico, am I required to obtain a New Mexico certificate and license?
Under New Mexico’s mobility provision, you may practice in New Mexico without obtaining a New Mexico CPA certificate and license, provided that:
- Your principal place of business is not in New Mexico;
- You hold a valid CPA license from another state;
- You have passed the Uniform CPA Examination; and
- You have at least one year of experience.
If your principal place of business is in New Mexico, you must obtain a New Mexico CPA license.
for information regarding mobility legislation specific to each state.
Q: Is a New Mexico firm permit required if I wish to practice under the mobility provision?
A New Mexico firm permit is required if:
- The firm has an office in New Mexico; or
- The firm does not have an office in New Mexico but will be performing attest services for a client whose principal place of business is in New Mexico
Q: Is there a residency requirement for licensure?
Individuals seeking initial licensure by grade transfer are subject to a residency requirement. Acceptable documentation of residency includes one of the following:
- A physical, verifiable New Mexico address
- A New Mexico driver's license
- A New Mexico voter registration card
- A signed job offer in New Mexico
- A mortgage or lease agreement in your name on a residence in New Mexico
- Notarized statements from three New Mexico residents with physical addresses attesting to your residence in the state.
There is no residency requirement for individuals applying for licensure by examination or by reciprocity.
Q: Am I required to pass an ethics examination as a prerequisite for licensure?
Applicants for licensure by examination and by grade transfer must pass the American Institute of Certified Public Accountants (AICPA) Ethics Examination with a grade of 90% or higher. This self-study course must be completed within one year from the date of purchase. Please ensure that you designate the New Mexico Public Accountancy Board as a score recipient when registering for the examination, as we must receive a score report directly from the AICPA. Do not mail your answer sheet to the Accountancy Board!
To obtain registration materials, please call the New Mexico Society of CPAs at (505) 246-1699. Click here
to register online using Mastercard or Visa.
Q: If I have passed the Uniform CPA Examination in another state, am applying for licensure by grade transfer, and my education was completed outside of the United States, how should I submit my transcripts to the Accountancy Board?
Q: If my experience is gained outside of the United States, what credentials must my supervisor possess?
Your supervisor must be a licensed CPA, either in New Mexico or in one of the other 54 jurisdictions governed by the National Association of State Boards of Accountancy (NASBA). That person must have been licensed at the time he or she supervised you. Be advised that supervision by a Chartered Accountant in another country will not suffice.
Q: How often must I renew my CPA license?
Your CPA license must be renewed every year. A renewal fee of $130 and a completed report of your continuing professional education are due in the Board office by the last day of your birth month. Licenses will be cancelled if they are not renewed within 90 days of the expiration date.
Q: What is my continuing professional education reporting cycle?
Every CPA in licensed in New Mexico must complete 120 hours of continuing professional education (CPE) within a rolling three-year cycle. This rolling cycle begins on the first day of the month after your birth month and ends on the last day of your birth month three years later. At least 96 of the hours must be technical credit, and at least 4 hours must be in ethics. At least 20 hours must be earned in each 12-month period within the reporting cycle. Click here CPE fields of study
for a description of the acceptable subject areas.
Q: How do I report my continuing professional education credits?
All CPE credits for the preceding 36-month cycle must be reported with the renewal application. Approximately 15% of individuals renewing licenses each month will be randomly selected for a CPE audit.
Q: How do I determine which courses are acceptable for continuing professional education credit?
Any course offered by a provider registered with the National Association of State Board of Accountancy (NASBA) or the American Institute of Certified Public Accountants (AICPA) will be accepted. Click here
for a national listing of approved courses. If a course in not approved by either NASBA or the AICPA, it must meet the Joint Statement on Standards for Continuing Professional Education Programs. Joint Statement on Standards for Continuing Profession Education Programs
Q: How do I reinstate a cancelled CPA license?
If your license has been cancelled due to non-renewal, you must complete the application for reinstatement, pay the reinstatement fee, complete all required CPE, and undergo a criminal history background check. Once all of the requirements have been satisfied, your file will be presented to the Board for consideration and approval at its next regularly scheduled meeting.