@kizfaka wrote:
I do have an eligible entity with an effective date of 06/22/2023.
Yes, but you did not have an eligible entity prior to that date in June. Therefore, no eligible entity that can elect S corporation status (for federal income tax purposes).
@kizfaka wrote:
But I can't find any information about this using my own research.
That, in itself, should be a red flag, but your accountant(s) should be able to provide authority for the proposition (if not, then that flag gets larger and bright red).
Frankly, the stated goal may violate the economic substance doctrine; a taxpayer cannot simply change entity or business classifications for the sole purpose of reducing tax liability and nothing more.
