LLC is a business entity type. S Corp is a way to be taxed.
With LLC, life is simpler (formation, filing taxes, maintenance).
With S Corp, you can distribute the profit as dividend (at a lower tax rate) after paying yourself a reasonable salary.
Edit: I just noticed that you'd posted the original comment in this thread. So, LLC electing to be taxed as an S Corp means simpler filing requirements (as opposed to C Corp and the like), coupled with the ability to distribute dividends.
