ACQUIRING MINORITY STAKE IN AN S-CORP, SHOULD WE CONVERT INTO LLC?

In negotiations to acquire a 40% stake in an S-Corp. Have read a lot about how everything is moving to LLCs. What are the reasons for this - tax or limits personal liability or otherwise?

If there are any lawyers out there willing to give some free legal advice, I could potentially use some and promise to it back should negotiations continue:) Would like to provide this advice as a favor to the seller as he gets more comfortable with me/the deal



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