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 A Blue Sky 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

21 days prior to SEC qualification

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 ยง359(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

*State filing fees may be changed without notice. Please check with each state regulator for specific requirements and variables.

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