Funding your business online using crowdfunding - within Texas

Federal rules currently do not allow you to raise capital from non-accredited (wealthy) investors online. However, Texas has passed legislation allowing crowdfunding within the state borders. Here is an overview of the rules:

• Must file with state form 133.17 21 days before general solicitation.
• Escrow requirements: Deposited until minimum offering satisfied
• Investment limitation: $5,000
• All communication with (potential) investor must be through portal
• Extra disclosure: Financial statements

Here is a link to the rules.
Here is a link to the required declaration form.