Until you know you are going to stick with it (no offense, many clients try stuff and change their mind), I would not consider the extra paperwork involved with having the NEW LLC taxed as a corporation. You can find more information on our website for Sub S Corporations www.USATaxHelp.com and also the why you really want at least an LLC as a business entity.
If you know for sure you are continuing, then the “S” corp election for the LLC is usually an excellent decision. Seriously, read the two handouts on our main website for “S” Corps and LLC’s at www.USATaxHelp.com