Certified public accountants-revisions.

09LSO-0046.C1

FISCAL NOTE

NON-ADMINISTRATIVE IMPACT	FY 2010	FY 2011	FY 2012
Anticipated Revenue Decrease:
CPA Certification	46,100	54,900	62,050

Source of Revenue Decrease: 

The proposed legislation will allow certain non-residents to practice in Wyoming without a license (practice privileges).  Thirty-two percent (32%) of current licensees are non-residents; 37 percent of licensed firms are non-residents; 41 percent of new applicants are non-residents.  Based on the results of a survey the Board of Certified Public Accountants conducted in 2008, it is anticipated that 22 percent of qualified non-residents will elect to renew the license and pay fees in FY 2010.  The above estimates reflect an anticipated loss of 78 percent of revenue paid by non-residents.

Assumptions:

Loss of revenue will most likely result in increased fees paid by those licensed.

Only 10 percent of qualified non-residents will pay fees in FY 2011 due to increased fees.

Assumes those who qualify for practice privileges will elect to do so rather than pay license fees.

NOTICE-AGENCY ESTIMATE OF ADMINISTRATIVE IMPACT REQUESTED

This bill has administrative impact that appears to increase (or decrease) duties or responsibilities of one or more state agencies and may impact agency spending or staffing requirements. As introduced, the bill does not modify any state agency budget or current personnel authorizations.

The following state agencies will be asked to provide their estimate of the administrative fiscal impact prior to the first committee meeting held to consider the bill:

Board of Certified Public Accountants

Prepared by:   Joy Hill, LSO                    Phone: 777-7881

(information prepared by Peggy Morgando, Board of CPAs, ph. 777-7551)