With the Federal Title III rules effective, there is certainly a lot of excitement surrounding national level “retail” crowdfunding to non-accredited investors. That’s obviously great news for the industry, but it’s important to remember that the majority of the states currently have some form of “intrastate” retail crowdfunding laws already in effect; many of which offer significantly more favorable terms to issuers and investors than the federal rules. Moreover, the number of states passing these laws, and their use, continues to grow to make them viable capital options for many companies.

http://www.crowdfundinsider.com/2016/05/86096-intrastate-crowdfunding-the-often-overlooked-option/