For both sides
EBITDA (pre-280E)
Federal and state law current as of September 2026 — verify with counsel.
Key takeaways
- Earnings before the 280E cash hole. Buyers still spend after-tax cash.
- Use the term the way the regulator uses it.
- Do not import another state’s definition.
- Ask counsel before the LOI uses the word as a promise.
EBITDA (pre-280E) is the file this page underwrites. Earnings before the 280E cash hole. Buyers still spend after-tax cash. Federal and state law current as of September 2026 — verify with counsel. This is educational, not a guarantee of price, timing, approval, or financing.
Why EBITDA (pre-280E) matters in a cannabis sale — what should you verify for EBITDA (pre-280E)?
Owners lose months when EBITDA (pre-280E) is treated as slang. The application, the LOI, and the agency packet have to use one definition.
How EBITDA (pre-280E) is used correctly — what should you verify for EBITDA (pre-280E)?
The correct use of EBITDA (pre-280E) is the one that a California reviewer would recognize. Do not import a Pennsylvania habit unless the premises sit there.
How EBITDA (pre-280E) is misused — why does this change EBITDA (pre-280E)?
The usual misuse is turning ebitda (pre-280e) into a premium without a citation. Buyers then treat it as optional. Neither side can close on that.
| Use of EBITDA (pre-280E) | Broker reading |
|---|---|
| EBITDA (pre-280E) in a CIM | Must match the statute, not a slogan |
| EBITDA (pre-280E) in an LOI | If it requires agency consent, say so |
| EBITDA (pre-280E) in a model | Label ranges; do not hide 280E |
| EBITDA (pre-280E) vs a neighbor word | Do not swap ebitda (pre-280e) for a look-alike term from another state |
File example that turns on EBITDA (pre-280E) — what belongs on EBITDA (pre-280E)?
Illustrative: a CIM inflates ebitda (pre-280e) into a premium. Diligence removes it. Price moves. See APA vs MIPA if the term changes who keeps the liability.
Nearby words people confuse with EBITDA (pre-280E) — how should you read this on EBITDA (pre-280E)?
If someone says ebitda (pre-280e) and means a different glossary entry, stop and pick the right slug. The glossary index exists so EBITDA (pre-280E) stays precise.
Jason Taken will not price EBITDA (pre-280E) on a rumor that “rescheduling is done.” Medical rescheduling is done for the activity the order covers. Adult-use is not. FinCEN FIN-2014-G001 and SBA SOP 50 10 8 did not disappear in April 2026. H.R.9471 is the House companion, also unenacted.
Cited sources that govern EBITDA (pre-280E): 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.
Related pages for EBITDA (pre-280E) — why does this change EBITDA (pre-280E)?
Read METRC next if that file is open on EBITDA (pre-280E). glossary index is the companion page when EBITDA (pre-280E) needs that angle. Keep federal law in the working set for EBITDA (pre-280E). Read 280E next if that file is open on EBITDA (pre-280E). deal structure is the companion page when EBITDA (pre-280E) needs that angle. Keep sell in the working set for EBITDA (pre-280E). Read buy next if that file is open on EBITDA (pre-280E). 280E is the companion page when EBITDA (pre-280E) needs that angle.
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.
Frequently asked questions
What does EBITDA (pre-280E) mean in a cannabis sale?
Earnings before the 280E cash hole. Buyers still spend after-tax cash.
Is this legal advice?
No. Confirm the term against the statute and counsel.
Does the definition travel across states?
No. EBITDA (pre-280E) in one statute is not automatically EBITDA (pre-280E) in another.
Where does it show up in a deal?
Applications, LOIs, CIMs, and often the approval contingency.
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