For both sides
Non-compete and non-solicit
Federal and state law current as of September 2026 — verify with counsel.
Key takeaways
- As of September 2026, medical marijuana is Schedule III; adult-use remains Schedule I (Federal Register 2026-08176 and pending hearing).
- 280E still hits adult-use SG&A; medical books may take ordinary deductions — apportion dual licenses.
- SBA loans are unavailable for plant-touching targets (SOP 50 10 8).
- Deals close on regulatory approval; control does not move early.
- Single-store commentary multiples of about 3x–6x EBITDA are trade ranges, not appraisals (2025–2026 commentary).
Non-compete and non-solicit is a paper-architecture problem. The agency, the tax authority, and the landlord each need a sentence that matches the others. This page is written for owners and buyers and for more than one license class. It is not legal or tax advice.
Non-compete and non-solicit does not create interstate adult-use commerce, SBA eligibility, or a USCIS safe harbor. Chapter 7 and 11 remain generally closed to domestic plant-touching debtors. Hemp is CRS IF13136 plus the 12 November 2026 effective date. Price the file that exists.
| Topic | Working rule (verify, September 2026) |
|---|---|
| Audience | owners and buyers |
| License lens | more than one license class |
| Contrast markets | Michigan / Ohio / Maryland |
| SBA | Unavailable for plant-touching (SOP 50 10 8) |
| Hemp clock | P.L. 119-37 redefinition 12 November 2026 |
| Commentary multiple (not an appraisal) | 4x–43x normalized earnings |
Distressed paths near Non-compete and non-solicit — what breaks Non-compete and non-solicit?
Receiverships and ABCs exist because chapter 7 and 11 are generally closed to domestic plant-touching debtors. If Non-compete and non-solicit is already in a fiduciary process, price the claims, not last year’s CIM.
The first cut on Non-compete and non-solicit — what breaks Non-compete and non-solicit?
Non-compete and non-solicit is decided before a teaser goes out. both sides who start with a hoped-for multiple skip whether the paper can move. Michigan and Ohio do not share a packet. more than one license class is the lens.
Records that prove Non-compete and non-solicit — what should you verify for Non-compete and non-solicit?
Rebuild Non-compete and non-solicit from track-and-trace, tax filings, the lease cannabis-use clause, and a cap table that matches the application. A vanity P&L is a brochure. Buyers spend after-tax cash.
Michigan habits that fail on Non-compete and non-solicit — what breaks Non-compete and non-solicit?
Copying a Michigan habit into Ohio is how Non-compete and non-solicit dies in review. Maryland is the third check. Published locks (Maryland converted control through 1 July 2028; New Jersey majority changes; California non-assignment) only apply if the premises sit there.
Cash after tax on Non-compete and non-solicit — what belongs on Non-compete and non-solicit?
Illustrative only: $291,000 of pre-280E earnings can shrink hard on an adult-use book. Medical Schedule III relief after 28 April 2026 is a slice, not a slogan. Dual shops apportion. IRC §280E is the citation.
Capital that will not appear on Non-compete and non-solicit — what belongs on Non-compete and non-solicit?
SBA SOP 50 10 8 still bars plant-touching 7(a) and 504. SAFE Banking Act of 2026, S.4942 is not a close condition. Non-compete and non-solicit is funded with seller paper, private credit, cash, or a sale-leaseback — or it is not funded.
Local authorization inside Non-compete and non-solicit — why does this change Non-compete and non-solicit?
A state yes with a city no is a failed Non-compete and non-solicit. Opt-out, buffers, and CUPs are the site. Read local control before anyone argues price.
People the agency will map on Non-compete and non-solicit — what breaks Non-compete and non-solicit?
True parties of interest include more than the 51% owner. Silent lenders and handshake managers show up on Non-compete and non-solicit whether the CIM mentions them or not.
Confidentiality rules for Non-compete and non-solicit — what belongs on Non-compete and non-solicit?
Non-compete and non-solicit is not a Facebook post. Use a blind teaser and an NDA. Employees and landlords in Michigan find out on a planned day.
Holdbacks that belong on Non-compete and non-solicit — how should you read this on Non-compete and non-solicit?
Tax, inventory, and compliance residuals sit in escrow or a holdback. Non-compete and non-solicit that closes “clean” with open city tax is a gift to the buyer’s counsel.
What a commentary multiple is not on Non-compete and non-solicit — what should you verify for Non-compete and non-solicit?
Trade notes still cite about 4x–43x normalized earnings for a clean single store. Public MSO chatter near 4.16x EV/EBITDA for 2025 is not a value for Non-compete and non-solicit.
Hemp overlay if Non-compete and non-solicit touches SKUs — what belongs on Non-compete and non-solicit?
P.L. 119-37 and CRS IN12620 on the 2026 hemp definition reset the definition on 12 November 2026. If Non-compete and non-solicit includes delta-8 or other intoxicating hemp, underwrite the post-rule catalog.
MSA risk around Non-compete and non-solicit — what should you verify for Non-compete and non-solicit?
A management agreement that moves control before approval is a license event. Non-compete and non-solicit does not get a clever close by calling the buyer a consultant.
Diligence order for Non-compete and non-solicit — what belongs on Non-compete and non-solicit?
Agree whether Non-compete and non-solicit is a scarcity file or a cash-flow file, then pick the diligence order. The checklist stays in the working set.
Cited sources that govern Non-compete and non-solicit: Hemp SKUs must be read against CRS IN12620 on the 2026 hemp definition and CRS IF13136; the redefinition date is 12 November 2026. Federal Register 2026-08176 is the April 2026 medical / FDA-approved marijuana Schedule III order. IRC §280E still disallows ordinary deductions on Schedule I trafficking, which is why adult-use books stay in 280E. FinCEN FIN-2014-G001 remains the SAR frame banks actually use.
What to bring to the intro call — what breaks Non-compete and non-solicit?
Book twenty minutes with Jason Taken at HedgeStone Business Advisors. For Non-compete and non-solicit, bring the license class, the state, the local authorization status, and whether a buyer or target is already in the room. There is no form on this site and no invented listing book. He is a business broker, not an attorney and not a licensed cannabis operator.
Related pages for Non-compete and non-solicit — what belongs on Non-compete and non-solicit?
Read APA next if that file is open on Non-compete and non-solicit. notes and liens is the companion page when Non-compete and non-solicit needs that angle. Keep approval contingencies in the working set for Non-compete and non-solicit. Read buyer MIPA/APA guide next if that file is open on Non-compete and non-solicit. MIPA is the companion page when Non-compete and non-solicit needs that angle. Keep MSAs in the working set for Non-compete and non-solicit. Read holdbacks next if that file is open on Non-compete and non-solicit. APA vs MIPA is the companion page when Non-compete and non-solicit needs that angle.
Summary on Non-compete and non-solicit — why does this change Non-compete and non-solicit?
Non-compete and non-solicit turns on approval, after-tax cash, and the license class. Federal law current as of September 2026 is a schedule split, not a green light. Verify every rate, cap, and clock with counsel.
Which public sources belong on this file?
Keep U.S. Treasury, DEA drug scheduling, DEA diversion schedules, FDA cannabis / CBD page in the working set. A forum post is not a substitute.
How should you underwrite Non-compete and non-solicit?
Non-compete and non-solicit has to sequence as a license-and-tax file. In Colorado, scarcity can dominate. In Connecticut, paper value can be near zero. Cited sources that govern Non-compete and non-solicit: SBA SOP 50 10 8 keeps plant-touching targets out of 7(a) and 504, including medical. SAFE Banking Act of 2026, S.4942 and H.R.9471 were introduced in 2026 and are not law. Hemp SKUs must be read against CRS IN12620 on the 2026 hemp definition and CRS IF13136; the redefinition date is 12 November 2026. Federal Register 2026-08176 is the April 2026 medical / FDA-approved marijuana Schedule III order.
| Check | Colorado | Connecticut |
|---|---|---|
| Transfer / host | Verify agency | Verify city |
| Tax / 280E mix | Medical slice | Adult-use slice |
What does a 280E-literate CPA ask?
Non-compete and non-solicit has to map as a license-and-tax file. In Michigan, scarcity can dominate. In Ohio, paper value can be near zero. Cited sources that govern Non-compete and non-solicit: SAFE Banking Act of 2026, S.4942 and H.R.9471 were introduced in 2026 and are not law. Hemp SKUs must be read against CRS IN12620 on the 2026 hemp definition and CRS IF13136; the redefinition date is 12 November 2026. Federal Register 2026-08176 is the April 2026 medical / FDA-approved marijuana Schedule III order. IRC §280E still disallows ordinary deductions on Schedule I trafficking, which is why adult-use books stay in 280E.
| Check | Michigan | Ohio |
|---|---|---|
| Transfer / host | Verify agency | Verify city |
| Tax / 280E mix | Medical slice | Adult-use slice |
How should approval be sequenced?
Non-compete and non-solicit has to rebuild as a license-and-tax file. In Illinois, scarcity can dominate. In Minnesota, paper value can be near zero. Cited sources that govern Non-compete and non-solicit: IRC §280E still disallows ordinary deductions on Schedule I trafficking, which is why adult-use books stay in 280E. FinCEN FIN-2014-G001 remains the SAR frame banks actually use. SBA SOP 50 10 8 keeps plant-touching targets out of 7(a) and 504, including medical. SAFE Banking Act of 2026, S.4942 and H.R.9471 were introduced in 2026 and are not law.
| Check | Illinois | Minnesota |
|---|---|---|
| Transfer / host | Verify agency | Verify city |
| Tax / 280E mix | Medical slice | Adult-use slice |
Where does the file break in California versus Pennsylvania?
Non-compete and non-solicit has to hold back as a license-and-tax file. In California, scarcity can dominate. In Pennsylvania, paper value can be near zero. Cited sources that govern Non-compete and non-solicit: FinCEN FIN-2014-G001 remains the SAR frame banks actually use. SBA SOP 50 10 8 keeps plant-touching targets out of 7(a) and 504, including medical. SAFE Banking Act of 2026, S.4942 and H.R.9471 were introduced in 2026 and are not law. Hemp SKUs must be read against CRS IN12620 on the 2026 hemp definition and CRS IF13136; the redefinition date is 12 November 2026.
| Check | California | Pennsylvania |
|---|---|---|
| Transfer / host | Verify agency | Verify city |
| Tax / 280E mix | Medical slice | Adult-use slice |
Frequently asked questions
What multiple should you not use?
A 2021 MSO slide, a liquor-store rule, or a national slogan. Commentary 3x–6x is a conversation, not an appraisal of Non-compete and non-solicit.
When should you walk away?
If the license is locked, the city will not host the buyer, the books cannot be rebuilt, or the hemp catalog dies in November 2026. Optimism does not repair Non-compete and non-solicit.
How should the sale stay confidential?
Use a blind teaser and an NDA. Employees and landlords learn on a planned day. Non-compete and non-solicit is not a Facebook post.
What capital actually funds these deals?
Seller paper, private credit, cash, or a sale-leaseback. SBA will not appear. [SAFE Banking Act of 2026, S.4942](https://www.congress.gov/bill/119th-congress/senate-bill/4942) is not a close condition for Non-compete and non-solicit.
Who counts as a true party of interest?
More than the 51% owner. Silent lenders and handshake managers show up whether the CIM mentions them or not. Map them before you price Non-compete and non-solicit.
Does tax debt vanish in an asset sale?
No. Cannabis tax claims can follow the buyer or the assets. Clearance certificates and holdbacks exist for Non-compete and non-solicit.
Sources
- Viridian Capital public commentary — Tier 1 U.S. MSO EV/EBITDA ~4.16x (2025 consensus)
- Federal Register 2026-08176 (28 April 2026) — medical / FDA-approved marijuana to Schedule III — https://www.federalregister.gov/d/2026-08176
- FinCEN FIN-2014-G001 — BSA expectations for marijuana-related businesses — https://www.fincen.gov/resources/statutes-regulations/guidance/bsa-expectations-regarding-marijuana-related-businesses
- SBA SOP 50 10 8 (effective 1 June 2025) — marijuana ineligibility — https://www.sba.gov/document/sop-50-10-lender-development-company-loan-programs
- Congress.gov S.4942 — SAFE Banking Act of 2026 (introduced, not enacted) — https://www.congress.gov/bill/119th-congress/senate-bill/4942
- U.S. Treasury — https://home.treasury.gov/
- DEA drug scheduling — https://www.dea.gov/drug-information/drug-scheduling
- DEA diversion schedules — https://www.deadiversion.usdoj.gov/schedules/
- Congress.gov H.R.9471 — companion SAFE Banking bill — https://www.congress.gov/bill/119th-congress/house-bill/9471
- CRS IF13136 / IN12620 — hemp definition change effective 12 November 2026 (P.L. 119-37) — https://www.congress.gov/crs-product/IN12620
- IRC §280E — https://www.law.cornell.edu/uscode/text/26/280E