Bloomberg New York City cannabis operators will now be allowed to deduct business expenses from local taxes, under a bill Gov. Kathy Hochul (D) signed Friday. The legislation, S7508, allows businesses authorized to engage in the production, distribution, and sale of adult-use marijuana products or medical cannabis to deduct their business expenses when computing taxable income 

​ Bloomberg New York City cannabis operators will now be allowed to deduct business expenses from local taxes, under a bill Gov. Kathy Hochul (D) signed Friday. The legislation, S7508, allows businesses authorized to engage in the production, distribution, and sale of adult-use marijuana products or medical cannabis to deduct their business expenses when computing taxable income […] 

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Cannabis Law Report