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.

Share:
More In Business
Why CEO's Fear A.I. and Climate Change
More executives are feeling better about the global economy. But a growing number don’t think their companies will survive the coming decade without a major overhaul because of pressure from climate change and technology like artificial intelligence.
A Gold Medal For Beer Drinkers
The International Olympic Committee has signed the first beer brand in the 40-year history of a sponsorship program that earns billions of dollars for the organization and international sports.
Why Record-Shattering Heat Has Scientists On Edge
The latest calculations from several science agencies showing Earth obliterated global heat records last year may seem scary. But scientists worry that what’s behind those numbers could be even worse.
Load More