Originally Posted by Linkster

LLC and S-Corp are two different things - you definitely need to talk to a CPA - you also have to file with the IRS to get your corporation treated as either a LLC or a S-Corp depending on what you choose when you file the SS-4 - you can also go back and change it if needed. How you get taxed also depends a heck of a lot dependant on how you take money out, or if you do at all, whether you pay salaries, whether you take personal money out etc. One year (one of my companies was a LLC Partnership classification) I had things set up wrong and ended up owing $30k extra just because I had the corp paying out incorrectly.