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LLC vs S. Corp

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I was confident that I was going to open my new business as an LLC but I spoke to an attorney on the phone and she told me I should definately choose the subchapter 5 election and be an S Corp. I later spoke to an accountant who made it seem that if I chose to do the S Corp that I then would not be an LLC. I was under the impression that if I chose S Corp I would still be an LLC it would just affect my taxes different....or are the two not connected? I'm confused! :embarasse

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"An LLC that is taxed as an S corp is still a limited liability company from a legal standpoint (subject to the laws governing limited liability companies


in the state of formation); however, for tax purposes it is treated as an S corp.


Thanks for that link, it was helpful!

But does that mean I still go about filing everything as an LLC? I have the paperwork to file a new business with the state but there is no option for an S Corp... Is this something I have to reister with the IRS after registering as an LLC? I'm sorry to be such a bother! I just want to make sure I understand this. Thanks for that link, it was helpful!

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