California Governor Signs Several Marijuana-Related Bills
California Governor Gavin Newsom has signed a passel of bills affecting the cannabis industry, his office announced on Saturday. Among the legislation that is now law is AB 37, a proposal sponsored by Democrat member of the California House Reggie Jones-Sawyer that will allow cannabis companies to make tax deductions.
AB 37 requires that eligible companies file their taxes as sole proprietors or partnerships. A similar bill was vetoed last year by former Governor Jerry Brown.