The S Corp is a special type of tax classification. It’s a term for all the entities taxed under subchapter S in the federal tax code. In other words, you can’t “form” an S Corp. You form an LLC (or corporation, or other eligible entity), and then elect to have it taxed under subchapter S.
S Corps can provide businesses tax benefits like the ability to filter income, credits, and deductions through to the owner’s of the business. But the S Corp is not a one-size-fits-all solution. Depending on the business and ownership structure, it might make more sense to have a different structure. That’s one reason it is so important to have the proper professionals working with you early in your start-up.