Just six weeks after legalizing recreational marijuana, one California city is slashing its cannabis tax rate. The city of Berkeley is cutting its pot tax from 10% to 5% in an effort to attract and retain businesses in the area. Greg Zeman, Associate Editor at Cannabis Now, explains the significance of Berkeley's decision. The tax cut could push other pot-friendly cities in the area to cut marijuana tax rates as well. In Canada, the timeline for legalizing recreational marijuana is being bumped back by at least a month. The news caused Canadian marijuana stocks to drop.

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