State Securities Laws
One reason there are exemptions from federal securities laws is because there are so many state laws covering securities that additional registration is not needed. Every state has securities laws, which are called blue sky laws. If you wish to offer your stock in all fifty states, you must be registered in all fifty states, unless you can fit into one of the exemptions. However, exemptions are very limited.
Each state has its own blue sky requirements and exemptions. If you are going to raise money from investors, check with a qualified securities lawyer in each state in which you intend to sell stock.