New Mexico CPA Requirements
Exam and License Requirements To Become a CPA
Want to learn all about the CPA Exam?
New Mexico provides several economic incentives for businesses operating in the state and generates demand for CPAs. So, what does it take to become a CPA in New Mexico? Keep reading to learn everything you need to know about becoming a CPA in New Mexico including info about the application process, licensure, and renewal requirements.
New Mexico CPA Requirements
The New Mexico Public Accountancy Board sets the CPA requirements for the state in close association with the National Association of State Boards of Accountancy (NASBA) and the American Institute of Certified Public Accountants (AICPA). Requirements for licensure are as follows:
| Social Security Requirement | No |
| Age, Citizenship, and Residency Requirements |
|
| Good Moral Character | Yes |
| Education Requirements for Licensure | 150 hours (including B.A.) |
| Pass the Exam | Score 75 or higher in each section |
| Ethics Exam Requirements | Pass the AICPA's Professional Ethics Course with a minimum score of 90 |
| Work Experience | 1 year of experience |
| International CPA Examination Program | New Mexico participates in the International CPA Exam Program. |
To sit for the CPA Exam in New Mexico, candidates must complete a baccalaureate degree or its equivalent with 30 semester hours in accounting. No more than 3 of the 30 hours may be in business law. For CPA licensure in New Mexico, candidates must complete 150 semester hours of education.
Work Experience Requirements
CPA candidates in New Mexico must complete at least one year of work experience in accounting, attest, management advisory, financial advisory, tax, or related consulting skills. The experience must be verified by a licensed CPA.
New Mexico CPA Exam & Licensing - Cost and Fees
New Mexico CPA candidates must pay an education evaluation application fee of $90, followed by a fee of $1509.2 for each exam section. All candidates must pay the application and examination fees at the time of submission.
| New Mexico CPA Exam Fees | |
|---|---|
| Education Evaluation Application Fee | $90 |
| Auditing and Attestation (AUD) | $354.80 |
| Financial Accounting and Reporting (FAR) | $354.80 |
| Regulation (REG) | $354.80 |
| ISC/BAR/TCP ( Choose only one) | $354.80 |
| Total: | $1509.2 |
In New Mexico, candidates need to undergo a GEMALTO background check during the application process for CPA licensure. Alongside the background check, applicants must submit an online application and pay a fee of $175. Additionally, New Mexico offers candidates the option to obtain CPA licensure through grade transfer or reciprocity.
New Mexico CPA License Renewal Requirements
New Mexico CPA licensees must renew their licenses annually by documenting their Continuing Professional Education (CPE) and paying a fee of $130. The cycle starts on the first day of the month after your birth month and ends on the last day of your birth month. Licenses are canceled if they are not renewed within 90 days of expiration.
New Mexico CPA Continuing Education Requirements
New Mexico CPA license holders must continuously upskill themselves and implement best practices in their profession. Hence, they must obtain 120 CPE hours every three-year cycle with a minimum of 20 CPE hours annually for license renewal. Of the 120 CPE hours:
- 4 hours must be in ethics
- 96 hours must be in technical courses
- 24 hours cannot be sponsored by your firm or employer
New Mexico CPA Exam: Dates, Score Release, and Scheduling
When preparing for the New Mexico CPA Exam, it's essential to understand the structured process to ensure smooth scheduling. Here is a detailed overview of the exam dates, and score release dates, and provide detailed instructions for scheduling each exam section.
Exam Dates & Score Release
The CPA Exam is administered by CPA Examination Services (CPAES), a NASBA sub-division. To plan accordingly, view the AICPA’s CPA Exam score release dates.
Exam Section Scheduling
Below is a step-by-step guide on the CPA Exam application and scheduling process.
Get started by opening an Okta account, which will provide you access to the CPA portal dashboard. This dashboard will allow you to apply for the education evaluation process, make payments, and apply for your section exams. You will also receive your “Notice to Schedule” (NTS) through this portal.
The next step is to apply for the education evaluation that will confirm your eligibility for the CPA Exam in New Mexico. All your educational transcripts need to be directly submitted to CPAES from your universities. New Mexico is an active participant in the International CPA Examination Program. If you have done your education outside the U.S., get your education evaluation done from recognized services like NASBA International Evaluation Services (NIES).
When you see confirmed eligibility on the CPA Exam portal, go ahead with the exam section application process. You can only apply for one section at a time and receive NTS each time you apply. NTS status and expiration date would be updated on the portal itself. You will also see a Candidate Exam Section ID (CES ID) upon booking.
You can schedule your CPA Exam using Prometric, which requires you to enter your NTS number. You can check for the nearest Prometric center in your state and the available exam dates.
Each section of the CPA Exam must be passed with a score of 75 or higher.
