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State CPA Societies in Action: Minnesota Society of CPAs (MNCPAs)

CPA Practice

The Minnesota Society of CPAs or MSCPA celebrated its 119 th anniversary in 2023, from the beginning crafting regulation and education to maintain high professional standards for clients, employers, and the public. has been experiencing a slight decline in member.

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Bill on Alternate Path to CPA Licensure Gains Momentum in Minnesota Senate

CPA Practice

A Minnesota legislative committee advanced a bill in the state Senate on March 7 that would add an alternative pathway to CPA licensure while also maintaining the 150 credit-hour option. A companion bill in the Minnesota House of Representatives, House File 1749 , has yet to receive a hearing date.

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Transaction Thresholds: Vanishing Acts?

TaxConnex

Several states also tossed in the number of transactions over a previous period: $100,000 or 200 transactions in the prior 12 months in Minnesota, for instance, or $500,000 and 100 transactions over the previous four sales tax quarters in New York. Senate Committee on Finance.

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State Pass-Through Entity Tax Updates: September 2023

Cherry Bekaert

Minnesota On July 27, 2023, the Minnesota Department of Revenue issued updated guidance detailing changes to the state’s PTE Tax, beginning in tax year 2023, that were enacted under the legislation House File 1938 in May. Taxpayers affected will automatically have their accounts adjusted to reflect the abated penalty.

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150 Hour Rule: Let’s Keep Arguing About What Color the Drapes Should Be While the House is Burning Down

Going Concern

Let’s note here quickly that many of the “anti-150” folks aren’t lobbying to abolish it completely but to offer alternative pathways such as Minnesota’s proposal to create a second pathway to licensure that would require 120 units of education and two years of experience. We needed to take some action.”

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Friday Footnotes: Bob Moritz Disappoints Us; ERC Window Slamming Shut; 2024 Sucks For Firms? | 3.22.24

Going Concern

Many in finance are looking to take on senior roles in MNCs and eventually become CFO,” she says. “My Things are about to get a lot harder for Minnesota CPAs and everyone who depends on them. Under the premise of attracting talent, Minnesota lawmakers are proposing to lower Minnesota’s CPA education standards.

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Does the 150 Hour Rule Provide Value to the Profession or to Students as Future CPAs? No, Says Professor

Going Concern

Big 4 alum and professor of accounting and finance at the College of Saint Benedict and Saint John’s University in Minnesota Boz Bostrom has penned a piece for the MNCPA blog on why, in his opinion and supported by research, the 150 hour rule must change. This has been my challenge with Minnesota.

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