Last October the Securities and Exchange Commission adopted amendments to Rule 147 to modernize the safe harbor under Section 3(a)(11) and a new intrastate offering exemption, Rule 147A. These changes took effect on just over a month ago – on April 20, 2017.  The SEC also has published a Small Entity Compliance Guide for Issuers that includes this handy table:

Issuers will, of course, need to comply with state securities law qualification requirements.  If these exemptions prove popular, we may see corporate lawyers rediscovering the blue sky laws.