Stocks break through the red tape at state lines.
Entrepreneurs planning to issue their stock under the Small Company Offering Registration (SCOR) program can now sell in multiple states simultaneously, thanks to a new regulation.
Prior to this rule, small corporations and limited liability companies were required to submit a separate application to each state and meet each state's distinct filing requirements for selling there. Now a company completes and files an application, typically in the state in which the business is based, then forwards copies of the entire packet and the required fees to each of the states where it plans to sell stock.
For more information on whether your state offers the new option, contact your state securities commission office or visit http://www.nasaa.org/helpsmallbusiness/geninfo.html
Kansas Office of Securities Commissioner, 618 S. Kansas Ave., Topeka, KS 66603-3804, (785) 296-3307
SBA Office of Advocacy, (202) 205-6531