A bill signed into law by New York State Governor David Paterson provides an exemption from the state's new tax preparer registration requirements for CPAs, including those who hail from outside the state.
Under the registration requirements, tax preparers were required to register with the state tax department and pay a $100 fee starting December 31.
The New York State Society of CPAs had advocated for an exemption for all CPAs from the registration requirements, and had earlier succeeded in getting CPAs who were licensed in the state exempted from being subject to the requirements.
The new law, which is intended to help close the state's significant budget gap, clarifies that even CPAs who are licensed out of state, but who file New York State tax returns, are also exempt.
The exemption provision also applies to public accountants, attorneys, and the employees of CPA, public accounting and law firms.
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