Reg A+ Blue Sky State Filing Fees

In the U.S., securities laws are regulated by federal and state governments. There are many similarities between Blue Sky Laws, however there are specific requirements that vary by state in regards to the required fee, as well as how securities may be registered. Even though Tier 2 filings are pre-empted from State registration per SEC rules, the SEC has declared that States have the authority to require Notice filings and state fees.

The Blue Sky state filing fees for Regulation A+ offerings can be found in the table below. Due to the number of nuanced requirements and complexity of fee computations, for specific questions, please consult Colonial Stock Transfer to help process your filings. Our blue sky services team can help you from start to finish. Also, see a full list of Regulation D 506 Blue Sky Fees

Regulation D 506 State Fees

State When to File Tier 1 Filing Fees Tier 2 Filing Fees
Alabama At least 1 business day prior to first sale $40 filing fee + registration fee of 1/10 of 1% of the maximum offering amount
Minimum fee: $100
Maximum fee: $1,500
$40 filing fee + registration fee of 1/10 of 1% of the maximum offering amount
Minimum fee: $100
Maximum fee: $1,500
Alaska Tier 1: 21 Days prior to first sale $600 (for 1 year) No fees
Arizona Tier 1: 21 Days prior to first sale 1/10 of 1% of the maximum offering amount
Minimum fee: $200
Maximum fee: $1,500
No fees
Arkansas No later than 15 days after first sale 1/10 of 1% of the maximum offering amount
Minimum fee: $150
Maximum fee: $2,000
$100
California Prior to first sale $200 + 1/5 of 1% of the maximum offering amount
Maximum fee: $2,500
$600
Colorado $200 + 1/5 of 1% of the maximum offering amount
Maximum fee: $2,500
$200
Connecticut 1/10 of 1% of the maximum offering amount
Minimum fee: $300
Maximum fee: $1,500
No fee
Delaware Prior to first sale .5% of maximum aggregate offering. Minimum fee: $200, Maximum fee: $1000 .5% of maximum aggregate offering. Minimum fee: $200, Maximum fee: $1000
District of Columbia 1/10 of 1% of the maximum offering amount
Minimum fee: $250
Maximum fee: $1000
Florida $1,000 No fee
Georgia Prior to first sale No fee No fee
Hawaii 1/10 of 1% of the maximum offering amount
Minimum fee: $250
Maximum fee: $2,500
Idaho $300 $50
Illinois $400
Indiana 21 Days prior to first sale $500 No fee
Iowa At least 21 Days Prior to first sale 1/10 of 1% of offaering amt. Minimum: $50, Maximum: $1000 $400
Kansas 1/20 of 1%, minimum: $100, maximum: $1500. No fee
Kentucky 15 Days prior to first sale $125 examination fee + .06% of the maximum offering amount. Minimum: $60
Maximum: $1,200
$250
Louisiana 15 days prior to first sale $250 examination fee + 1/10 of 1% the maximum offering amount
Minimum: $100 Maximum fee: $1,250
$250 examination fee + 1/10 of 1% the maximum offering amount.
Minimum: $100 Maximum fee: $1,250
Maine 21 days prior to first sale 1000 $1,000
Maryland 21 Calendar days prior to first sale .01% of the maximum offering amount
Minimum fee: $500
Maximum fee: $1,500
$100
Massachusetts 2 business days prior to first sale 1/20 of 1% of the maximum offering amount
Minimum fee: $300
Maximum fee: $1,500
Total Amount of Offering Filing Fee
0-$500,000 $150
Over $500,000-$2,000,000 $250
Over $2,000,000-$7,500,000 $500
Over $7,500,000 $750
Michigan 10 Business days prior to first sale 1/10 of 1% of the maximum offering amount
Minimum fee: $100
Maximum fee: $1,250
$100
Minnesota 10 Business days prior to first sale 300 No fee
Mississippi Within 15 Days of first sale 1/10 of 1% of the amt registered, minimum
Minimum fee: $300
Maximum fee: $1,000
$300
Missouri Tier 1 review must be complete prior to first sale Tier 2: N/A
If offering totals up to $100,000, fee is $100
> $100,000, fee is 1/20 of 1%
Maximum amount: $1,000
No fee
Montana $200 + 1/10 of 1% of the maximum offering amount for any amount over $100,000
Minimum fee: $200
Maximum fee: $1,000
Nebraska At least 1 business day prior to the first sale or offering of securities in state 1/10 of 1% of the maximum offering amount
Minimum fee: $100. No maximum.
200
Nevada Prior to first sale .2% of the maximum offering amount
Minimum fee: $700
Maximum fee: $5,000
No fee
New Hampshire Prior to the sale $200 exam fee + 2/10 of 1% of the maximum offering amount +
Maximum fee: $1,050
$200 exam fee + 2/10 of 1% of the maximum offering amount +
Maximum fee: $1,050
New Jersey Tier 1: Completed registration prior to first sale
Tier 2: N/A
$3,000 No fee
New Mexico Due within 15 days of first sale 1/10 of 1% of the maximum aggregate price of registered securites offered
Minimum fee: $525
Maximum fee: $2,500
$350
New York Prior to first sale M-11 if the offering is less than $500,000, the fee is $300. If the total offering amount is $500,000 or more, the fee is $1,200.
PS 102 is 2/10 of 15% of total offering price with $750 minimum for a total offering price under $250,000 and $30,000 maximum fee for a total offering price of $15,000,000 or more.
PS 104 and GBL §359(f)(2) is $300.
Form 99
Investor Protection if the offering is less than $500,000, the fee is $300. If the total offering amount is $500,000 or more, the fee is $1,200.
Real Estate if offering is less than $500,000, the fee is $1,050. If the total offering amount is $500,000 or more, the fee is $1,950.
$300 if aggregate offering is <$500,000, $1200 if offering is >$500,000
North Carolina $2000 *for tier 1 filings
North Dakota Prior to offering in state Filing Fee: 1/10 of 1% of the aggregate amount of each security or class of security to be registered but not more than $2,500.00 with a minimum of $150.00 for each security or class of security to be registered. 1/10 of 1% of the aggregate amt of each security or class.
Minimum fee: $150 (per class)
Maximum fee: $2,500.00
Ohio 15 days prior to first sale in state $100 + 1/10 of 1% (minimum $100)
Minimum: $200
Maximum: $1,000
Oklahoma Prior to first sale $200 examination fee + 1/10 of 1% of the maximum offering amount
Minimum fee: $200
Maximum fee: $2,500
$250
Oregon Prior to first sale 1/10 of 1% of the maximum offering amount
Minimum fee: $200
Maximum fee: $1,500
$200
Pennsylvania Prior to the first sale $500 + 1/20 of 1% of max aggregate offering price, up to maximum of $3000 No fee
Rhode Island 1/10 of 1% of the maximum offering amount
Minimum fee: $300
Maximum fee: $1,000
1/10 of 1% of the maximum offering amount
Minimum fee: $300
Maximum fee: $1,000
South Carolina 21 calendar days prior to first sale $500 $500
South Dakota 21 calendar days prior to first sale $1 per $1000 being offered, minimum: $100, Max: $2000 $250
Tennessee 21 days prior to first sale 1/10 of 1% of the maximum offering amount
Minimum fee: $300
Maximum fee: $1,000
$500
Texas N/A $70 + 1/10 of 1% of the aggreagate amt of offering $70 + 1/10 of 1% of the aggreagate amt of offering
US Virgin Islands 15 days prior to first sale 1/20 of one percent of the aggregate amount of securities that will be registered in the Virgin Islands. (Minimum $1000, Maximum $3000) $1,000
Utah No later than 15 days after the first sale $300 $100
Vermont 15 days prior to first sale Notice filing fee of $2,000.00 and an annual renewal fee of $1,500.00 $600 per class/type of security
Virginia 21 calendar days prior to first sale 1/10 of 1% of offering amt, minimum: $250, maximum: $500 $500 initial. $250 annual renewal
Washington 21 calendar days prior to first sale $100 for first $100,000 + 1/40 of 1% for amt over $100,000 offering amt $100 for first $100,000 + 1/40 of 1% for amt over $100,000 offering amt
West Virginia 15 days prior to first sale 1/16th of 1% of securities, minimum $60
Wisconsin Prior to the initial offer and/or sale $1,500 200 initial. $200 extension
Wyoming Prior to first sale $200