Legal Question in Real Estate Law in Wisconsin

Converting a WI LLC to an S-Corp

My first question to you is "why?" What are you hoping to accomplish with an S-Corporation which could not be better accomplished with an LLC? I would not be in a position to even comment without this knowledge. I would also need to know the ownership structure of both entities, i.e., does this involve family or "arm's length" business associates? Is the property being purchased, and if so, for how much? If not structured correctly, such a transaction could incur various different tax liabilities and could also impact future capitol gains taxes on the effected real estate (or other assets) when they are eventually sold. While both entities allow "pass through" losses and gains to the owner's personal tax returns, some experts believe that LLC's (essentially, partnerships under the WI LLC statute) can provide better liability protection from certain tort claims than an S-Corporation. I have heard comments suggesting the opposite in relation to some types of tax liability.