On March 22, 2017, the Board elected
officers for 2017-2018.
Wm. Hunter Cook, CPA, was elect¬
ed President of the Board; Cynthia
B. Brown, CPA, Vice President; and
Jeffrey J. Truitt, Esq., Secretary-Trea¬
surer.
Cook, who was appointed to the
Board in 2016, served as Vice Presi¬
dent 2016-2017. He served as Pres¬
ident, Vice President, and Secre¬
tary-Treasurer during his previous
terms (2009-2012 and 2013-2016) on
the Board.
Licensed as a North Carolina CPA in
1983, Cook is a retired Dixon Hughes
Goodman, LLP, partner.
Licensed as a North Carolina CPA
in 1992, Brown was appointed to the
Board in 2015. A Certified Employ¬
ee Benefit Specialist (CEBS), she is
self-employed as an employee bene¬
fits consultant.
Brown was previously employed by
Grant Thornton, LLP, as Director in
Compensation and Benefits Consult¬
ing.
Truitt, a member of the Board since
January 2014, is one of two public
members of the Board. He served as
Secretary-Treasurer 2016-2017 and
2015-2016. Truitt is an attorney with
Smith Anderson.
2017-2018
Officers Elected
Am I Required to Have a Privilege License
from the NC Department of Revenue?
Every person engaged in the public practice of accounting as a principal, or
as a manager of the business of public accountant, shall pay for such license
fifty dollars ($50.00), and in addition shall pay a license tax of twelve dollars
and fifty cents ($12.50) for each person employed who is engaged in the ca¬
pacity of supervising or handling the work of auditing, devising or installing
systems of accounts [NC General Statute 105-4 1(c)].
If you are an owner, principal, or
manager in a CPA firm or business
providing accounting services to third
parties, you are required to purchase
a $50.00 annual privilege license
from the North Carolina Department
of Revenue (NC DOR).
You also are required to pay a
$12.50 fee for an annual privilege li¬
cense for any other employees of the
CPA firm or business, CPA or non-
CPA, providing accounting services.
Accounting services include, but
are not limited to, audits, reviews,
compilations, financial statements,
agreed-upon procedures, book¬
keeping, tax return preparation, tax
reports, professional services or as¬
sistance relating to accounting pro¬
cedure and systems, tax consulting,
and management advisory services.
CPAs employed in business, in¬
dustry, government, or education are
not required to purchase an annual
privilege license from the NC DOR.
However, a CPA engaged in the
public practice of accounting who
provides any of the above-noted ser¬
vices outside his or her government,
business and industry, or education
employment (such as a seasonal tax
preparation firm) is required to pur¬
chase an annual $50.00 privilege li¬
cense.
According to the NC DOR, a
non-resident CPA engaged in the
public practice of accountancy by
providing any of the services noted
above through mobility is required to
purchase an annual $50.00 privilege
license.
A privilege license is issued on an
annual basis as a personal privilege
license; it will not be issued in the
name of a firm or corporation.
The privilege license must be ob¬
tained from the NC DOR prior to en-
Privilege License
continued on page 4
In This Issue
Disciplinary Actions . 2
Newsletter Delivery . 3
Phishing Email . 5
Certificates Issued . 6
Board Meetings . 7
Office Closed . 7
Reclassifications . 7
North Carolina State Board of Certified Public Accountant Examiners
