We have good news for all you California CPA Exam Candidates gearing up to become CPAs!

For the first time since 2000, the CBA is decreasing CPA Licensure and Renewal fees to both counterbalance the expenses of the new peer review requirement and to help with the current economic climate. Unanimously voted for at a March meeting, this lofty 40% decrease will go into effect July 1, 2011 and ends 4 years later on June 30, 2015.

Given the efficiencies with which the CBA has been operating, our healthy reserve fund (~15.5 Million) enables us to reduce fees, said CBA President Sally Anderson. With the present economic environment, this is certainly a good time to do so.

How does it affect you?

  • Youre a CPA or accounting firm approved for licensure AFTER June 30, 2011: You are eligible for the reduction of the initial licensing fee of either $120 or $60, depending on when the license is issued.

  • Youre an existing CPA or accounting firm and your license expires after June 30, 2011: You will pay a reduced fee of $120 every other year.

While some of you may be thinking $40 a year is merely chump change, its rare that any state agency proposes to reduce its fees. So, enjoy your slightly thicker wallet and be happy that its not an increase!