2019 New California Laws Impacting Cannabis Businesses
Cannabis Law Report
OCTOBER 25, 2019
October 25, 2019. Article PDF. Governor Newsom has signed several bills that impact the cannabis industry by providing relief from federal income tax deduction limitations, encouraging minority participation, encouraging union membership, and clarifying some other existing regulations. The bills include: Assembly Bill 37 repeals the limitation on deductions for business expenses for cannabis businesses, which had previously conformed to Internal Revenue Code section 280E for state tax purposes
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