A: Hi:
Generally speaking, you have several options (many of which you've identified).
1. You can revoke S-Corp status (if you have a corporation and want C-Corp status). However, revocation won't be effective until the 2024 tax year. With that said, sometimes people inadvertently revoke S-Corp status by taking certain actions (which we can discuss).
2. You can create a new entity and structure it in the way you want (corporation, LLC, partnership, etc.). Then, you can wind down the S-Corp.
3. You can merge your existing S-Corp into an entity and have that entity survive and your S-Corp "merge out" and disappear.
The approach that makes the most sense depends upon your business, the assets held by your S-Corp, and your objectives.
Best regards,
Chris Jackson