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A Corporate applicant for a permit:
Must meet the applicable requirements of the Maryland
Professional Service Corporation Act. Must have a permanent
office in Maryland or, at the time of application, submit
proof of the corporation's intent to immediately establish
a permanent office in Maryland; and
Be organized such that a simple majority of the ownership
of the corporation, in terms of financial interests and voting
rights, is held by individuals licensed to practice certified
public accountancy in this or another state. All non-CPA owners
must be active participants in the corporation.
Note: At least one officer, partner or member must reside
in Maryland and must be licensed to practice in Maryland.
A Limited Liability Company (LLC):
Must have a permanent office in Maryland or, at the time of
application, submit proof of the limited liability company's
intent to immediately establish a permanent office in Maryland
from which an individual is to practice certified public accountancy;
Each permanent office shall be under the immediate direction
of a member of the limited liability company who resides in
Maryland.
Be organized such that a simple majority of the ownership
of the corporation, in terms of financial interests and voting
rights, is held by individuals licensed to practice certified
public accountancy in this or another state. All non-CPA owners
must be active participants in the limited liability corporation.
A Partnership:
Must have a permanent office in Maryland or, at the time of
application, submit proof of the limited liability company's
intent to immediately establish a permanent office in Maryland
from which an individual is to practice certified public accountancy;
Each permanent office shall be under the immediate direction
of a partner of the partnership who resides in this Maryland.
Be organized such that a simple majority of the ownership
of the partnership, in terms of financial interests and voting
rights, is held by individuals licensed to practice certified
public accountancy in this or another state. All non-CPA owners
must be active participants in the partnership.
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