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Minnesota Administrative Rules

1105.3400 INTERSTATE RECIPROCITY.

Subpart 1.

Principal place of business not in this state.

If the substantial equivalency standard in Minnesota Statutes, section 326A.14, is not applicable, the board shall issue a certificate to the holder of a certificate in good standing issued by another state provided that the applicant:

A.

has successfully completed the CPA examination, meaning that the applicant passed the examination according to the rules of the other state at the time it granted the applicant's initial certificate;

B.

has, in addition to meeting the requirements of item A, satisfied the requirements in Minnesota Statutes, section 326A.04, subdivision 3, paragraph (a), clause (2);

C.

has experience of the type required under this chapter and the act for issuance of the initial certificate;

D.

has met the CPE requirement pursuant to Minnesota Statutes, section 326A.04, subdivision 3, paragraph (a), clause (3), if applicable; and

E.

has completed the examination on professional ethics as required by part 1105.1800, subpart 2.

Subp. 2.

Principal place of business in this state.

A certificate holder licensed by another state who establishes a principal place of business in this state shall obtain a certificate from this state. If the certificate holder's individual qualifications are not substantially equivalent to the act or this chapter, the board shall issue a certificate to the holder of a certificate in good standing issued by another state provided the applicant is of good moral character and has met the qualifications in subpart 1.

Subp. 3.

Applicant duties.

An applicant granted a certificate under subpart 1 is subject to Minnesota Statutes, section 326A.14, subdivision 1, paragraph (c). Further, the holder of a certificate granted under subpart 1 shall notify the board if the holder establishes a principal place of business in this state.

Subp. 4.

Certificate based on international reciprocity.

An applicant holding a certificate issued by another state whose certificate in that other state was issued based on a professional accounting credential or professional registration issued by a foreign country must apply for a certificate in this state under part 1105.3500 and Minnesota Statutes, section 326A.03, subdivision 7.

Statutory Authority:

MS s 326.18; 326A.02

History:

27 SR 1425; 33 SR 476

Published Electronically:

September 18, 2008

700 State Office Building, 100 Rev. Dr. Martin Luther King Jr. Blvd., St. Paul, MN 55155 ♦ Phone: (651) 296-2868 ♦ TTY: 1-800-627-3529 ♦ Fax: (651) 296-0569