New Administration Means New Agendas — and New Business for…
New Administration Means New Agendas — and New Business for Law Firms: Heads of top firms say it’s not political issue, just reality of government’s impact on business community
January 21, 2021
Max Crane, Managing Partner of Sills Cummis & Gross, discussed a range of business and legal issues with ROI-NJ’s Editor & Chief Content Officer.
“Max Crane, the managing partner of Sills Cummis & Gross, said those working the cannabis industry should be busy: ‘I think cannabis is going to get a clearer path federally because it’s going to cross swords, in a good way, with decriminalization, justice reform and small business. It just needs a little stronger push.’”
Regulation was discussed.
“‘Regulation cuts across a broad spectrum of issues and sectors,’ Crane said. ‘It’s been reported that there are all these executive orders that are waiting on the president’s desk, where he’s ready to reinstate regulations that had been rescinded. So, there’s no question in my mind that this is going to increase the regulatory regime. And, for good and for bad, for corporations who work within a regulatory regime, lawyers are essential.’”
Taxes were also discussed.
“Crane agreed. ‘It’s not a question: Taxes are going to go up,’ he said. ‘Whether it’s income taxes or capital gains taxes or inheritance taxes or real estate taxes, the government needs money. And, notwithstanding all the political rhetoric, anyone who thinks they’re going to escape this is kidding themselves. Everyone’s taxes are going to go up.’ Unless you have a good lawyer. ‘The very smart, creative lawyers and lobbyists are going to do what they always do: Figure out ways to reduce people’s tax burden. Tax lobbying, tax structuring, tax planning all are going to become fresh fodder for the legal business,’ Crane said.”