Kurt R. Magette

Kurt R. Magette

SENIOR COUNSEL
RICHMOND
T: 804.793.8631
F: 804.793.8649

Mr. Magette has 40 years of experience as a business, commercial real estate and tax attorney.  A registered CPA, he focuses his practice on business and commercial real estate transactions requiring significant expertise in federal and Virginia taxation. He is a frequent author and lecturer, including time as an adjunct professor at Virginia Commonwealth University School of Business and William and Mary’s Marshall-Wythe School of Law.
 

Recognitions

  • AV Preeminent®: Martindale-Hubbell® Peer Review Ratings™
  • The Best Lawyers in America®, Corporate Law, Real Estate Law (2016–Present)
 

Memberships & Activities

  • Member: Virginia State Bar Association
  • Adjunct Professor: Virginia Commonwealth University, Masters in Accounting Program (2013–2015)
  • Past Member: Virginia Bar Association, Real Estate Section, Tax Subcommittee
  • Past Member: National Association of Real Estate Investment Trust Counsels
INSIGHTS

Author: “Subchapter K-2: A Proposal to Simplify Partnership Taxation,” Tax Notes Federal, June 2024

Speaker: "Legal Trends, Best Practices, and New Strategies to Tackle Challenges in Fundraising, Incentive Compensation, and Exits for Emerging Companies," Advanced Business Law Conference, December 2023

Author: “Special PTET Implications for S Corporations with a Virginia Focus,” State and Local Tax Notes, January 2023

Author: “Carried Interests in a Tax Partnership: Reflections, Reactions, and Regulations,” Tax Notes, April 2018

Speaker: "Limited Liability Companies, Single Purpose Entities, and Bankruptcy Resistant Entities," Presentation to Virginia Banks, January 2015

Speaker: "Historic Credits in 2009 or Why Your Deal Will Not Have a Federal Partner," Alliance for Conservation of Old Richmond Neighborhoods Seminar, March 2009

Speaker: "The Death of the Virginia Historic Credit?" Alliance for Conservation of Old Richmond Neighborhoods Seminar, May 2007

Speaker: "A Practical Guide to Historic Tax Credits," Alliance for Conservation of Old Richmond Neighborhoods Seminar, November 2006

Speaker: "Family LLCs: Pitfalls, Pratfalls and Panacea," VSCPA Tax Seminar, July 2003

Speaker: "Partnership Taxation: Advanced Concepts," VSCPA Tax Seminar, October 2001

Speaker: "Family LLCs: Giving Your Cake Away and Eating It Too," Inaugural VSCPA Tax Conference, November 2000

Speaker: "Mergers and Acquisitions: The Modern Merger Manual for the Millennium," Inaugural VSCPA Tax Conference, November 2000

Speaker: "Tax Efficient Business for the New Millennium," Regional Society of CPAs, June 2000

Speaker: "Sale of a Business: When the Rubber Meets the Road," 52d Annual Virginia Conference on Federal Taxation, June 2000

Speaker: "S Corporations: Driving the Ford Pinto; Advanced S Corporations: Planning Update," Tax Conference, Kansas City, Missouri, October 1999

Author: “Using LLC Profits Interest Instead of Corporate Options,” Tax Notes, Vol. 82, No. 3, January 1999

Speaker: "S Corporations and Limited Liability Companies: Of Dinosaurs and Sharks," 50th Annual Virginia Conference on Federal Taxation, June 1998

Speaker: "Partnerships and S Corporations," IMA/ASWA 12th Annual Tax Conference; October 1997

Speaker: "A Tune-Up for the Edsel: Small Business Job Protection Act of 1996," IMA/ASWA 11th Annual Tax Conference, November 1996

Speaker: “Intellectual Use of a Virginia LC,” IPLS NewsLine, Summer Quarter, 1996

Speaker: "Recent Corporate and Partnership Tax Developments: A Practical Guide," 44th Annual Virginia Conference on Federal Taxation, June 1992

Speaker: "A Practical Guide to Partnership Operations - An Update," The 12th Annual VCU-VSCPA Tax Conference; November 1990

Speaker: "A Practical Guide to Partnership Operations," The 11th Annual VCU-VSCPA Tax Conference, November 1989

Speaker: "Partnerships Update - Working with the Section 704(b) Regulations," Tenth Annual VCU-VSCPA Tax Conference, November 1988

Co-Author: “Choice of Business Entity,” Taxation of Individuals Vol. 12, No. 1, Winter, 1988

Speaker: "Partnerships After the Tax Reform Act of 1986," Ninth Annual VCU-VSCPA Tax Conference, November 1987

Speaker: "Choice of Business Form - C Corp., S Corp., or Partnership?" Eighth Annual VCU-VSCPA Tax Conference, November 1986

Co-Author, “Subchapter K,” Georgetown Law Journal Vol. 75, No. 2, December 1986

Speaker: "Advantages of the Partnership Structure - Even After TRA-1984," Seventh Annual VCU-VSCPA Tax Conference, November 1985

Speaker: "Taxation of Divorce Transactions," Sixth Annual VCU-VSCPA Tax Conference, November 1984

ARTICLES

Client Alert: Opportunity Zone Investment: Continued Vitality?

The opportunity zone rules came into the tax code basically in 2018. The initial tax benefit is the ability to defer capital gain generally from any source through investment of the cash into a qualified opportunity fund (“QOF”). However, this deferred gain must generally be recognized on December 31, 2026 (if not recognized sooner through various kinds of dispositions and “inclusion events”).

A Record 87 Whiteford Attorneys Listed in Best Lawyers in America 2024, Ten Selected as “Ones to Watch”

87 lawyers from Whiteford, Taylor & Preston have been selected by their peers for inclusion in The Best Lawyers in America® 2024 (copyright 2023 by Woodward/White, Inc., of Aiken S.C.). New practice areas of recognition include CleanTech Law and Entertainment and Sports Law. The lawyers selected are based in the firm’s Delaware, Maryland, Pennsylvania, Virginia and Washington offices. Client comments are posted on the Best Lawyers website, at bestlawfirms.com.