Talking Points for Leadership Call Punch List

July 17, 2024

The NJCPA is now accepting nominations for the 2024 Ovation Awards, which celebrates the high achievers who are emerging leaders, innovators, champions of diversity, educators, volunteers, notable women and other individuals who have made a substantial impact in accounting. Nominations are due by Wednesday, September 11. Multiple entries are allowed, as are self-nominations. For more information and to submit a nomination, go to njcpa.org/ovation.

Please remind CPAs, CPA Candidates and accounting students that the NJCPA's 2024/25 membership renewal season is ongoing. Members may renew their memberships online at njcpa.org/renew. If a CPA or Candidate is unsure if they are on autorenewal or if their firm/company pays their dues through a single invoice, they may contact Susan Dyer at sdyer@njcpa.org. 

The NJCPA's Membership+ program provides up to 20 FREE CPE credits to all members. Upcoming events are:

• IssuesWatch Live: Professional Issues Update on July 24 and 31 (replay)

Review upcoming webinars at njcpa.org/membership-plus.

In June, New Jersey lawmakers passed a $56.7 billion budget that, in effect, reinstates the 2.5% corporate business tax (CBT) surcharge that sunset on Jan. 1. The new tax, called the Corporate Transit Fee (CTF), is a 2.5% tax on corporations with profits over $10 million, affects about 600 corporations and gives New Jersey the highest CBT in the nation. The tax is retroactive to Jan. 1, 2024.

The National Pipeline Advisory Group (NPAG), formed last summer, drafted six broad strategies for improving talent acquisition and retention. The group's National Pipeline Strategic Plan encompasses all accounting profession roles — CPAs and non-CPAs — and is meant to apply to target audiences ranging from middle school students to accounting professionals in their first five years of employment. The six high-level recommendations are:

• Address the time and cost of education
• Make the academic experience more engaging
• Enhance the employee experience by evolving business models and cultures
• Prioritize strategies to expand paths for the underrepresented at every stage
• Provide better support to CPA Exam candidates
• Tell a better story

The NJCPA is incorporating the recommendations into the organization's pipeline strategy. Additional information and recommendations from NPAG are expected before the end of the year.

July 17, 2024