- This topic has 4 replies, 5 voices, and was last updated 10 years, 1 month ago by .
-
Topic
-
So I just read this frightening section on the South Carolina CPA FAQ’s section:
Q. Can I go on inactive status?
A. There is no provision for an inactive status. You must either be active (pay renewal fee and turn in CPE), Voluntarily Surrender your license and not sign anything as a CPA or hold out, or apply for Emeritus Status, form 5000.
Emeritus Status is permanent. You cannot use any of your financial skills for compensation. If at a later date you want to become an active CPA, you must retake the CPA Exam. On the application for emeritus status give details as to your current occupation.
I just completed my last exam and will begin working at the end of this summer in Virginia. I suppose I should transfer my scores anyway, but are there any other states that do not allow you to go inactive status as a CPA (as in you must retake the exams if you decide to go inactive??)
If I do transfer my scores and become a CPA in Virginia, will I be completely exempt from all South Carolina rules even though I passed the exams as an SC candidate?
I think it said in Virginia you can reinstate your license by paying a fee of like $350. I’ve heard of some states requiring you to take CPE to get licensed again but it freaked me out seeing that SC has no inactive provision and makes you retake the exams..
Anyone have any experience with this? Do other states have similar provisions?
- The topic ‘Go inactive, must retake CPA exams ??’ is closed to new replies.