LLC vs S-Corp?

I am thinking about starting my own business primarly focus on software consulting. I am a full time employee of another company and don't want to quit in near future. I don't have any partners. Can you please help in chosing LLC Vs S-corp.

I have gone through the differences between these two from http://www.powerhomebiz.com/vol136/struc...

As I am working for another company, I still have to pay employment tax of 15.3% on net profit in case of LLC.
In case of S-Corp I can take the net profit as dividend so that I don't need to pay the employment tax which makes me lean towards S-Corp. I am hearing LLC is best for small company. I'd like to know which one is best for my situation?

Second part of my question is can one person start the LLC without any managers.(I am the manager and owner)

Most important is to get started and the business.

As a software consultant you may fall under a "personal service corporation" check on that first.

Best to see a local accountant about your specific business and potential risks.

Both are reported on your personal income taxes.
Good accounting can minimize the tax impacts

Second Part: In most states, yes. It is a "single member LLC)

There are pros and cons. There are some slight differences in LLC's from state-to-state. You should contact a good local accountant to help you decide from a tax standpoint.