Google Gets Tax Deduction for Most of California Journalism Deal

Most of the $242.5 million Google agreed to spend on journalism initiatives and artificial intelligence in California to avoid possible taxes or fees will be tax deductible.

Alphabet Inc.’s Google committed to spend that much over five years to boost journalism in California under an agreement reached this week with Assemblymember Buffy Wicks (D). Of that, $130 million is meant for a journalism fund hosted by the University of California, Berkeley Graduate School of Journalism. Because the fund will be a nonprofit organization, Google’s contributions will be deductible for federal and state income tax purposes, according to Wicks’ office. Another …