I am a B.Com. and C.A. from India. I recently passed the CPA exam. I appeared through CO board.

By reading previous posts, I understand that some of you have pursued the CO license under the "education in lieu of experience" or 2.5 rule.

My questions:

1. Is a CO license useful if I live in a different state?

2. Is pursuing the CO license under the above rule better to get the license within the 5 years from passing? If I get the license this way, is it then easier to transfer the license to my state of residence?

3. What are the advantages of getting a license vs. not getting a license? I understand that there are many CPE requirements to keep the license active.

I would highly appreciate if you can answer my queries. THANKS!

Hi,

I passed in Massachusetts ... does anybody know if I have to take an ethics exam also?

@ cpayesican
1. Is a CO license useful if I live in a different state? - If you want to practice as a CPA, then you need a license from the state you'll be practicing in.

2. Is pursuing the CO license under the above rule better to get the license within the 5 years from passing? If I get the license this way, is it then easier to transfer the license to my state of residence? - You can complete your interns under the direct supervision of an actively licensed CPA, its not necessary to go for Rule 2.5. For me, I did not have a SSN (thus I could not complete my interns) & had to choose the other option. Transfer of license - not sure. I think you need to check it with your state board. 

3. What are the advantages of getting a license vs. not getting a license? I understand that there are many CPE requirements to keep the license active - You cannot sign any document as a CPA till you have a license.