Can an LLC own an S-Corp? Some say 'yes, and some say 'no'.
Has anyone done it?
The standard answers seems to be 'No, because only individual people can own shares in an S-Corp', BUT there is another crowd that says 'Yes, under certain circumstances, and LLC may own an S-Corp (without invalidating the S-Corp status).

So, which is it? This is an important issue to people buying existing S corps.

This is a tax issue. Since the S-Corp does not pay taxes itself, and the profits get 'passed' onto the share owners who in turn pay taxes at a personal level on their personal tax return, it prevents double taxation.
But many want to use 'Holdco's' (often formed as LLC's) to hold their acquisition assets, for many other reasons.
So, has anyone done this? Used an LLC (or other legal pass through entity) to own their shares of an S-corp? Maybe a trust?

Anyone have experience with this?