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Kurt Magette is a business, commercial real estate, and tax lawyer. For over 30 years, Kurt has been providing legal assistance in the Richmond area. He is known for performing all work with the highest level of care. Kurt's clients are his partners.

Kurt is a Registered CPA in Illinois. He was recognized by Best Lawyers in America in 2016 for Corporate Law and has been listed in Virginia Business magazine’s Legal Elite several times. He is rated AV Preeminent by Martindale-Hubbell.

Education

  • Northwestern University Law School (J.D., cum laude, 1983)  Highest ten percent
  • Duke University, Durham, North Carolina (A.B., Management Science/Accounting, magna cum laude, 1980)  Highest ten percent, Martin L. Black Scholarship for top two accounting majors

Bar Admissions

  • Virginia

Representative Experience

General Business Matters

  • Formation, mergers, consolidations, reorganizations, disposition, transfers, and liquidations of all business entities
  • Buy-sell agreements: drafting and execution
  • Resolution of partner and other owner disputes
  • Capital (equity, debt, and hybrid) acquisition and structuring

Real Estate Tax Matters

  • Like-kind exchanges.
  • Federal and Virginia Historic & Low-Income Housing Tax Credits
  • Formation or reorganization for liability protection and tax-efficient structuring
  • Capital (equity, debt, and hybrid) acquisition and structuring

Tax Partnerships (GP, LP, LLP, LLC, and PLC); S Corporations; Regular (C) Corporations; (Public and Closely-Held); REITs

  • Basic structuring of entities and single member LLCs
  • Complex allocation and liability allocation matters
  • Designing and implementing incentive equity interests
  • Simple and complex designs for capital acquisition (equity, debt, and hybrid)
  • Transition planning for owners to family or employees
  • Establishing and maintaining charitable Section 501(c)(3) status
  • S corp issues related to restrictions on their structure, operation, and liquidation

Professional Associations and Memberships

  • Virginia State Bar, Member
  • Virginia Bar Association, Past Member
    • Sections on Taxation and Real Estate
    • Section on Real Estate, Subcommittee on Tax
  • American Bar Association, Past Member
  • National Association of Real Estate Trust Counsel, Past Member
  • St. Andrew's School Board, 2003-2008
    • Executive Board Member
    • Secretary

Honors and Awards

  • Best Lawyers in America 2016-2018 for Corporate Law
  • Best Lawyers in America 2018 for Real Estate Law
  • Virginia Business magazine's Legal Elite
  • Rated AV Preeminent by Martindale-Hubbell

Published Works

  • "Carried Interest in a Tax Partnership: Reflection, Reaction, and Regs," Tax Notes, Vol. 159, No. 4, pp. 491-494, April 23, 2018
  • "Letter to IRS Commissioner regarding AM 2007-002 (Federal Treatment of State Historic Credits)," Tax Analysts, February 6, 2007.
  • “Using LLC Profits Interest Instead of Corporate Options,” Tax Notes, Vol. 82, No. 3, pp. 355-358; January 18, 1999
  • “Intellectual Use of a Virginia LC”; IPLS NewsLine; Summer Quarter, 1996
  • Co-Author, “Choice of Business Entity,” Taxation of Individuals Vol. 12, No. 1, pp. 38-65 (Winter, 1988)
  • Co-Author, “Subchapter K,” Georgetown Law Journal Vol. 75, No. 2, pp. 423-623 (December, 1986)

Classes/Seminars Taught

Classes

  • Virginia Commonwealth University School of Business, Adjunct Professor
    • Masters in Accounting Program (Partnership Taxation), 2013-2015
  • William and Mary (Marshall-Wythe School of Law), Adjunct Professor
    • Partnership Planning, Fall 1999
    • LLM Program in Taxation (Partnership and S Corporation Taxation), 1992, 1993, 1994, 1996
    • LLM Program in Taxation (International Taxation) 1987
  • Virginia Commonwealth University, Adjunct Professor
    • MST Program (Partnership Taxation), 1984, 1985, and 1986
  • University of Virginia, Darden Business School, Annual Guest Lecturer
    • Pass Through Entities

Seminars

  • Historic Credits in 2009 or Why Your Deal Will Not Have a Federal Partner, Alliance for Conservation of Old Richmond Neighborhoods Seminar, March 28, 2009
  • A Practical Guide to Historic Tax Credits, Alliance for Conservation of Old Richmond Neighborhoods Seminar, November 11, 2006
  • Family LLCs: Pitfalls, Pratfalls, and Panacea; VSCPA Tax Seminar, July 22, 2003
  • Partnership Taxation: Advanced Concepts; VSCPA Tax Seminar, October 30, 2001
  • Family LLCs: Giving Your Cake Away and Eating It Too; First Ever VSCPA Tax Conference, November 3, 2000
  • Mergers and Acquisitions: The Modern Merger Manual for the Millennium; First Ever VSCPA Tax Conference, November 2, 2000
  • Tax Efficient Business for the New Millennium Selected Topics; Regional Society of CPAs, June 27, 2000
  • Sale of a Business: When the Rubber Meets the Road; 52d Annual Virginia Conference on Federal Taxation, June 1-3, 2000
  • S Corporations: Driving the Ford Pinto; Advanced S Corporations: Planning Update; Tax Conference; Kansas City, Missouri, October 21, 1999
  • S Corporations and Limited Liability Companies: Of Dinosaurs and Sharks; 50th Annual Virginia Conference on Federal Taxation, June 4-6, 1998
  • Partnerships and S Corporations; IMA/ASWA 12th Annual Tax Conference; October 3, 1997
  • A Tune-Up for the Edsel: Small Business Job Protection Act of 1996; IMA/ASWA 11th Annual Tax Conference; November 19, 1996
  • Recent Corporate and Partnership Tax Developments: A Practical Guide; 44th Annual Virginia Conference on Federal Taxation, June 4-6, 1992
  • A Practical Guide to Partnership Operations - An Update; The 12th Annual VCU-VSCPA Tax Conference; November 8-9, 1990
  • A Practical Guide to Partnership Operations; The 11th Annual VCU-VSCPA Tax Conference; November 9-10, 1989
  • Partnerships Update - Working with the Section 704(b) Regulations; Tenth Annual VCU-VSCPA Tax Conference; November 10-11, 1988
  • Partnerships After The Tax Reform Act of 1986; Ninth Annual VCU-VSCPA Tax Conference; November 12-13, 1987
  • Choice of Business Form - C Corp., S Corp., or Partnership?; Eighth Annual VCU-VSCPA Tax Conference; November 13-14, 1986
  • Advantages of the Partnership Structure - Even After TRA-1984; Seventh Annual VCU-VSCPA Tax Conference; November 14-15, 1985
  • Taxation of Divorce Transactions; Sixth Annual VCU-VSCPA Tax Conference; November 15-16, 1984

Publications