Winning organizations and successful leaders must be able to embrace discomfort. A willingness to step outside our comfort zone helps foster growth and forward progress. The same may be said for the profession. While the skills and competencies needed within the CPA profession advance and the requirements to become a CPA evolve, we all must remember that through the discomfort comes new thinking, creative solutions, and growth opportunities to enhance the profession.
Both the AICPA’s National Pipeline Advisory Group and NASBA’s Professional Licensure Task Force have been working hard to address the CPA talent shortage. Both groups have a good mix of representatives from across the U.S. and within the profession, and both are seeking solutions that will maintain substantial equivalency and mobility.
The AICPA Regional Council Meetings in March provided a good opportunity for CPAs and State Society CEOs to discuss their ideas and thoughts on the future of the profession and the work of the National Pipeline Advisory Group thus far, with more to come at the AICPA Council Meeting in May.
During the recent NASBA Executive Directors Conference in March, the Professional Licensure Task Force presented information on an additional path to licensure—one that would offer education, documented experience, and other elements that would provide an equivalent path within the Uniform Accountancy Act (UAA) for candidates to qualify for licensure, without the need of having a fifth year to complete a 150-hour education program.
We will keep you apprised of these efforts as they continue to develop.
Formulating a CPE Game Plan
While many of you in public accounting have been laser-focused on filing tax returns and extensions, your Society has been diligently working on opportunities for your professional growth as we busily plan this year’s CPE offerings. We held our annual Business, Industry & Innovation Conference on April 24 at the Champions Club in Lincoln, followed by a tour of Memorial Stadium, and are finalizing an exciting lineup of speakers and sessions for our remaining conferences this year.
Recognizing the diverse needs of our members, we continue to support traditional in-person learning experiences alongside a robust lineup of online courses. In addition, we recently launched our brand-new OnDemand learning solution, now totaling 140 curated courses covering a wide range of topics in accounting and auditing, tax, technology, and more. These individual courses, along with the option for an OnDemand Annual Subscription at $299 for members, represent significant value. I encourage you to explore these opportunities under the CPE & Events section at nescpa.org.
Huddle Up in a Committee
As we finalize the membership of our committees for this fiscal year, I invite each of you to consider joining us in these crucial roles. Your participation is vital in shaping the future of our profession and our Society. Sign up today at nescpa.org/committees.
Enjoying Halftime at the Legislature
This year has been pivotal for the Society in legislative advocacy. Thanks to the joint efforts of the Society and State Board, LB 854 was signed by Governor Jim Pillen on March 11, allowing candidates to sit for the CPA exam with 120 hours of qualifying college credit and a bachelor’s degree beginning in 2025. (Read the joint news release: CPA Candidates Approved to Sit at 120 Hours Starting 1/1/2025.)
One of the most heated issues taken up by the Legislature this year involved the Governor’s property tax plan, which was met with strong opposition from a broad coalition. The legislation (LB 388) included a significant reduction in property taxes in exchange for increases in the rate of sales tax on various products; the elimination of certain sales tax exemptions; and a new tax on digital advertising. In addition, the bill would have “front-loaded” property tax credits, rather than having to claim them on income tax returns. The bill also included a cap on revenue growth for cities, villages, and counties.
Initially, the proposed plan included raising the overall sales tax rate along with the taxation of accounting services, among other measures. However, the proposal to tax accounting services was not included in the bill that advanced out of the Revenue Committee on Feb. 1, highlighting the importance of the Society’s active engagement in the legislative process and the ongoing, day-to-day work of our lobbyists at Radcliffe, Gilbertson & Brady. In late February, Kymberly Messersmith from KPMG’s Washington, D.C., office joined the Society and Nebraska Chamber at the Capitol to encourage state senators to oppose the taxation of accounting services—yet another effort to ensure the voice of the profession was heard.
The Governor has said that he fully intends to call a special session this summer, telling state senators to “enjoy halftime” when he addressed them as they were wrapping up in April. Rest assured, your Society remains vigilant and proactive, ready to participate in any special sessions that may arise this year.
Although it was intense, senators still managed to get a lot done during the two‑year sessions of the 108th Legislature. Of the 1,417 bills introduced, the Governor signed 186 bills into law, with six more awaiting his signature or veto at the time of this writing. Those 186 bills encapsulate key provisions from more than 180 other pieces of legislation.
In addition to the aforementioned legislative endeavors is a potential ballot initiative, known as the EPIC Option, which would eliminate all property, income, inheritance, and corporate taxes and replace them with a statewide consumption tax, which means a tax on all new products, except for food, and a tax on all services. Soaring property tax burdens are a legitimate concern for many Nebraskans; however, research completed by the independent Tax Foundation has found that the EPIC Option would result in an unprecedented fiscal crisis in our state. As such, the Nebraska Society of CPAs has joined the No New Taxes Nebraska coalition, led by lobbyist Korby Gilbertson, to assist in opposing these efforts. The coalition held a press conference to announce its efforts on March 14 in the Rotunda at the Capitol. Your Society is committed to protecting the profession’s interests and ensuring a favorable business environment in Nebraska.
To stay up to date on this effort and other important issues, be sure to visit our new Hot Topics page at nescpa.org/news/updates/hot-topics.
Defending the Profession
In other news, the Nebraska Examiner published an article in February that contained derogatory comments toward the profession made by the Nebraska state auditor. Your Society swiftly responded with a commentary addressing the auditor’s comments, entitled “Independence is a cornerstone of the auditing profession,” which was published in the Nebraska Examiner on March 1. This response underscores the critical role the Society plays in upholding the integrity and public image of the profession. (Read the Society’s commentary: Independence Is a Cornerstone of the Auditing Profession.)
Playing Offense by Engaging Candidates
This year marks the end of the legislative journey for 15 of Nebraska’s 49 state senators, including Senators Joni Albrecht (Thurston), Carol Blood (Bellevue), Bruce Bostelman (Brainard), Tom Brewer (Gordon), Steve Erdman (Bayard), Steve Halloran (Hastings), Lou Ann Linehan (Elkhorn), John Lowe (Kearney), Mike McDonnell (Omaha), Tony Vargas (Omaha), Lynne Walz (Fremont), Justin Wayne (Omaha), and Anna Wishart (Lincoln) due to term limits. Senator Fred Meyer (St. Paul), who was appointed last year, has chosen not to run for election, and Senator Julie Slama (Dunbar) is not seeking reelection. Elections this year will include 25 of the 49 seats. Given Governor Pillen’s comments, the service of these senators may not yet be done.
Through the Society’s Political Education Committee (PEC), we can provide direct campaign support to candidates for the Nebraska Legislature who value and understand the CPA profession, regardless of party affiliation. Supporting a legislator’s campaign increases the likelihood of capturing their attention on issues that matter to the profession. By joining forces with fellow NESCPA members through the PEC, you help the Society build alliances with state senators who influence legislation. By law, none of your dues dollars may be allocated toward the PEC. CPAs must make all political contributions voluntarily. Learn more and contribute at nescpa.org/advocacy/contribute.
Winning Your Membership
If you’re looking to find value as a member, consider your Society’s involvement in the legislative, regulatory, and political process. It takes your membership, the volunteer leadership of numerous Nebraska CPAs, and the courage to “embrace discomfort” to make things happen. There is no doubt that our collective efforts and resilience will define the future success of the CPA profession in Nebraska.
Joni Sundquist is president and executive director of the Nebraska Society of CPAs. You may contact her at (402) 476-8482 or joni@nescpa.org.
