New Jersey CPA Requirements
Exam and License Requirements To Become A CPA
New Jersey CPA Requirements
New Jersey CPA Requirements
As an aspiring CPA candidate in New Jersey, you must pass the CPA Exam, meet the educational and experience requirements, and pass an ethics exam. The New Jersey State Board of Accountancy (NJ State Board) is the principal body that administers the state’s CPA regulations in collaboration with the National Association of State Boards of Accountancy (NASBA) and the American Institute of Certified Public Accountants (AICPA).
|Social Security Requirements||Yes|
|Age, Citizenship, and Residency Requirements||
|Good Moral Character||Yes|
|Education Requirement for Licensure||150 hours (including B.A.of 120 hours)|
|Pass the Exam||Score a minimum of 75 in each section|
|Work Experience||1 year of professional experience in public accounting/equivalent under a CPA license holder|
|Ethics Exam Requirements||Yes|
|International CPA Examination Program||No|
As part of the New Jersey CPA requirements, you must share your social security number to check compliance with the tax laws of the land.
- U.S. citizenship is not required for CPA candidates.
- Candidates must be at least 18 years old at the time of application.
- It is not necessary to be a resident, employee, or keep office(s) in the state.
You must fulfill specific educational and credit-hour requirements to meet New Jersey’s CPA Exam requirements to take the exam. This includes obtaining a baccalaureate degree from a regionally accredited institution with at least 120 hours of general college-level credit. The credits must incorporate the following:
- 24 semester hours in accounting courses
- 24 semester hours in general business courses
For a CPA license, you need a baccalaureate degree with at least 150 semester hours of general college-level credit. This must include 24 semester hours of accounting courses and 24 semester hours of general business courses.
You must pass all four sections of the CPA Exam with a minimum score of 75. You can take them in any order you want, but you must pass them all within an 18-month window.
You must gain one year of full-time work experience in professional accounting or its equivalent, under a licensed CPA professional. You can work in public accounting, academia, a government agency, or private industry.
Self-practice will not be considered. If you're working part-time, the requirement increases to two years. After completing your experience, you must submit work experience documents to the NJ State Board.
You must pass the New Jersey Law and Ethics Course within six months before or after obtaining your CPA license. It is a four-credit course provided by a sponsor approved by the state board. Remember to send the course confirmation to the NJ State Board within one month of taking the course.
New Jersey does not participate in the International CPA Examination Program. However, many states are active members of this program. To take the CPA Exam and earn a CPA license, international candidates must do so through a participating jurisdiction.
New Jersey CPA Exam & Licensing - Cost and Fees
The initial application fee for the New Jersey CPA Examination is $160, and the fee for each section, $238.15, is paid directly to the NASBA. In addition, there is a re-examination fee of $80.
|New Jersey CPA Exam Fees|
|Initial Application Fee||$160.00|
|Auditing and Attestation (AUD)||$238.15|
|Business Environment and Concepts (BEC)||$238.15|
|Financial Accounting and Reporting (FAR)||$238.15|
After passing all the CPA Exam sections, gaining work experience, and meeting additional requirements, you can apply for a CPA license in New Jersey. However, there are different ways in which you can apply for a CPA license in New Jersey.
- If you're applying after passing all four exams, there is no such initial application fee. However, you need to pay the fee once your application is approved.
- You must send supporting documents to the New Jersey State Board of Accountancy and submit your final licensure payment.
- If you've studied outside of the U.S. or at an institution that is not regionally accredited, you must submit an application to NASBA International Evaluation Services for a $75 fee.
- Once accepted, you must fulfill all requirements and submit all requested documentation to obtain your license.
- If you're applying for a CPA license in New Jersey via an endorsement, you will have to pay an application fee of $175, and submit all the required documents to the board.
- The licensing state must then submit the official Verification of Licensure Form, and upon meeting requirements, you can proceed for the final licensure payment.
As per the NJ State Board, the license renewal cycle occurs every three years. The current cycle is from January 1, 2021 to December 31, 2023. Below are the licensing fees to be paid based on the year you’re initially licensed in the three-year cycle.
For instance, if you are licensed within the first year of the cycle, your licensing fee will be $90, and subsequently, the fee for a license issued in the second and third years will be $60, and $30, respectively.
|New Jersey CPA License Fees|
|Licensed within the first year of the triennial period||$90|
|Licensed within the second year of the triennial period||$60|
|Licensed within the third year of the triennial period||$30|
New Jersey CPA License Renewal Requirements
The New Jersey CPA license is valid for three years from the date of issue. To receive renewal notices and renew your license, you must have your mailing address updated. Renewing your license is an online process with a fee of $90. The renewal must be done before December 31 of the year of license expiry. You must also meet the Continuing Professional Education (CPE) requirements during each renewal period.
New Jersey CPA Continuing Education Requirements
CPE is an essential component of CPA licensure, as it keeps professionals updated with the latest developments and helps them brush up their skills in accountancy. Hence, every CPA license holder must meet the CPE requirements of 120 credit hours before renewing their license. Of the 120 credit hours, the following are mandatory:
- 60 credit hours in technical subject areas
- 24 credit hours in accounting and auditing
- A minimum of 20 credit hours per year
New Jersey CPA Exam: Exam Dates, Score Release and Scheduling
Having met the New Jersey CPA Exam requirements, you can proceed towards applying and scheduling your exam. However, before scheduling your exam, you must know the exam and score release dates.
CPA Exam follows a continuous testing process, which allows the candidates to schedule the exam year-round. AICPA releases the CPA Exam score release dates every two years. Usually, the scores are out within 48 hours of the target score release dates.
Let us go through the application process and schedule your CPA Exam step-by-step.
Apply for Examination
All CPA aspirants must create an account at NASBA's CPA application portal. You must submit all the required documents and ensure that your educational transcripts are directly sent to the NASBA from your institution. Please note that the application fee is $160.
Obtain Authorization to Test (ATT)
The state board will verify your application and the supporting documents against the checklist. If eligible, they will send you an Authorization to Test (ATT), which confirms your eligibility to sit for the exam in New Jersey.
Obtain Notice to Schedule (NTS)
Post ATT, you will receive a Notice to Schedule within three to six weeks of your application. Remember to carry the NTS with you to the Prometric center; otherwise, you are not allowed to take the exam.
Schedule Your Examination With Prometric
NASBA uses Prometric to help you schedule your examination. Keep your NTS with you while doing so. You may want to do a quick internet search to locate the nearest Prometric center.
Pass the Examination
To pass the CPA Exam, you must score at least 75 in each section within an 18-month time period.