Mississippi State Board of Public Accountancy

• Resident Firms:
  • Wholly owned by natural persons and not owned in whole or in part by business entities
  • Simple majority of the ownership of the firm in terms of financial interests and/or voting rights hold valid Mississippi CPA licenses
• Nonresident Firms:
  • Wholly owned by natural persons and not owned in whole or in part by business entities
  • Simple majority of the ownership of the firm in terms of financial interests and/or voting rights hold valid CPA licenses in some state
  • CPA members of the firm are registered and in good standing with the Board unless they qualify for practice privileges
  • In compliance in the resident state
• Non-licensed owners can be included, provided the firm designates a licensee of Mississippi or another state where the firm is registered to be responsible for the firm
• All non-licensed owners are natural persons and are active individual participants in the CPA firm or affiliated entities
• Non-licensed owners do not hold, in the aggregate, more than 49% of the firm's financial interest or voting rights

Each resident manager of each CPA firm office in Mississippi must reside in Mississippi and have a CPA license in good standing with the state. Exempted from the requirement of Mississippi residency is a resident manager who spends a majority of his or her work year on-site in the Mississippi offices for which the licensee is the firm's resident manager. The exemption is intended to address licensees residing outside of Mississippi, but can commute to the Mississippi offices for which the licensee is the firm resident manager on a routine and regular basis.