How does an LLC form an S-Corp subsidiary Partnership?

[Patrick J.]

I've read that its better to form an LLC and then 2 S-Corps underneath it that own the LLC for a partnership rather than forming a normal partnership for operations. Is this better for taxes?

Could partners just elect to have the LLC taxed as an s-corp and then share 50/50 on the s-corp or should they form 2 seperate S-Corporations under the LLC?

And what paperwork is needed so that the S-Corps can own the LLC?

[Ashish Acharya]

Originally posted by @Patrick J.:

I've read that its better to form an LLC and then 2 S-Corps underneath it that own the LLC for a partnership rather than forming a normal partnership for operations. Is this better for taxes?

Could partners just elect to have the LLC taxed as an s-corp and then share 50/50 on the s-corp or should they form 2 seperate S-Corporations under the LLC?

And what paperwork is needed so that the S-Corps can own the LLC?

 Please clarify your entity structure in more detail. My head hurts reading what you wrote.