California to allow state tax deductions for cannabis businesses

California cannabis businesses will be allowed to deduct expenses on their state income returns after Gov. Gavin Newsom signed a legislator’s proposal into law. This article was originally published in MJBizdaily.com Newsom signed into law AB 37, a bill introduced by a fellow Democrat, Assemblyman Reggie Jones-Sawyer The measure will allow such state deductions, starting next year,…