Can a California CPA pay a referral fee?

Rule 503: Except as expressly permitted by this rule, a member engaged in the practice of public accounting shall not (1) pay a fee or commission to obtain a client or (2) accept a fee or commission for referring a client to the products or services of a third party.

Can financial Advisors receive referral fees?

Yes, an SEC registered investment adviser firm may pay cash referral fees to a third-party (non-employee) that solicits investment adviser clients on behalf of the registered investment adviser firm only if such a solicitor arrangement is in compliance with SEC Rule 206(4)-3 under the Investment Advisers Act of 1940.

Can California Attorneys pay referral fees?

The California rule is one of a minority of states that permits a “pure referral fee,” i.e., California permits lawyers to be compensated for referring a matter to another lawyer without requiring the referring lawyer’s continued involvement in the matter.

Can a Realtor pay a referral fee in California?

In California, the Bureau of Real Estate and California law permit a licensed real estate brokerage to pay a referral fee for a real estate transaction to a person not licensed by the Bureau of Real Estate, only if the person who is to get such a fee was not soliciting on behalf of the brokerage.

How do I transfer my CPA license to California?

Currently, California does not recognize reciprocity. An out-of-state CPA wanting to be licensed in California must submit an application and meet California’s education and licensing requirements (including passing the required ethics exam).

What state does not have CPA mobility?

With passage of this law, California CPAs will be better able to serve clients with multi-state locations.” Hawaii is the only remaining state that has not passed legislation providing similar privileges to out-of-state CPAs. The American Institute of CPAs praised the passage of the California mobility law.

Can I use an accountant in a different state?

Thanks to CPA mobility, your Certified Public Accountant is not required to operate in the same state you’re living in. Also, if you have a complicated state-centered issue, like a sales tax audit, it may be best to search for a local accountant.