Issue Brief on State Marijuana Laws and the CPA Profession
In November 2012, Colorado and Washington state voters approved ballot initiatives that legalized the recreational use of marijuana in each of those states. The AICPA, with input from the Colorado (COCPA) and Washington (WSCPA) state CPA societies, has drafted an issue brief that gives an overview of U.S. recreational and medicinal marijuana laws, the current legislative/regulatory environment, and information for CPAs considering providing services to businesses that operate in these industries (including a list of questions for CPAs to ask themselves before considering this line of work).
New GASB Pension Standards
On June 25, 2012, the Governmental Accounting Standards Board (GASB) approved two new standards (one for governmental pension plans and one for governmental employers) that would require state and local governments, for the first time, to report significant pension-related liabilities on their balancesheets. The AICPA has developed an information page for state societies and state-level lawmakers on the new pension standards.
CPAs in State Legislatures Map
Did you know there are over 65 CPAs currently serving in state legislatures across the country with 4 in leadership positions? There is 1 governor from Michigan and 1 Lieutenant Governor from Ohio who are both CPAs. There are also 12 CPAs who serve as State Auditor, Comptroller, or Controller. Click on the article title to see how many CPAs are serving in your state.
The state and territory resource and contact information area now includes over 1,000 new links in accountancy, government, study, and taxes.
CPAmobility.org, the free online tool that helps CPAs and accounting firms understand the implications of CPA Mobility, now includes new information to assist CPAs in providing tax services through mobility. Visit the tool at www.cpamobility.org to find out how this may affect your cross-border practice.