Skip to main content

Labry Welty focuses his practice on real estate, oil and gas, and corporate joint ventures and transactions. He regularly structures, drafts, and negotiates complex joint ventures throughout the United States and has experience advising clients on tax efficient structuring of real estate and renewable energy transactions and corporate mergers and acquisitions. Labry also possesses wide-ranging experience and knowledge of Texas taxation and multistate and local tax issues. He has advised clients with regard to income, franchise, margin, gross receipts, sales and use, and ad valorem taxes, as well as tax and business incentives throughout the country.


  • Partnership and limited liability company (LLC) formations, transactions, and liquidations
  • Drafting and negotiation of partnership and LLC agreements
  • Real estate tax planning, including like kind exchanges and debt workouts
  • REIT (including Baby REIT) formation and taxation 
  • Corporate organizations, reorganizations, and mergers and acquisitions
  • U.S. income taxation of inbound investments
  • Texas franchise and sales and use tax
  • Multistate and local taxation and controversy representation
  • Voluntary disclosure agreements (VDA)



  • Invesco Real Estate and its pension fund and REIT clients on a national basis in the tax aspects of real estate ownership, acquisitions, dispositions, development and joint venture formation (including drafting and negotiation of joint venture agreements)
  • BayWa r.e. Wind, LLC’s tax equity for the company’s 250MW Amadeus Wind project located north of Rotan, Texas

Recognition & Leadership

  • Listed, The Best Lawyers in America, Tax Law, 2018-2023
  • Listed, D Magazine, "Best Lawyers in Dallas – Tax Law," 2012, 2015-2022
  • Listed, Super Lawyers magazine, Texas Super Lawyers, 2018-2022
  • Rated, AV Preeminent® 5.0 out of 5.0

°AV®, AV Preeminent®, Martindale-Hubbell DistinguishedSM and Martindale-Hubbell NotableSM are certification marks used under license in accordance with the Martindale-Hubbell® certification procedures, standards and policies.

  • Member, American Bar Association
    • Tax Section
    • Partnership and LLC Committee
    • Real Estate Tax Committee
  • Member, Dallas Bar Association
    • Tax Section
    • Tax Section Council
    • Tax Section Treasurer
  • Member, State Bar of Texas
    • Tax Section
  • Member, Texas Federal Tax Institute Board of Directors
    • Treasurer
  • Member, Council on State Taxation


  • J.D., Southern Methodist University Dedman School of Law
  • B.B.A., West Texas A&M University
  • Texas
  • U.S. Tax Court