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You'll need to create a new account for this new entity, usercbchirowell.
It does affect your taxes. Most specifically filing the year-end forms. Since these are two different entities, it requires different types of forms.
However, if the effective date of the new entity is next year, you can create an account at a later date.
You can create a new QuickBooks account, here. Make sure to select the correct tax form in the settings. Here's how:
Furthermore, you can cancel the old account and resubscribe once you need to file your year-end forms.
Check this article in preparation for year-end filing: Year-end checklist for QuickBooks Online Payroll.
I'll be right here if you have other questions about tax forms in QuickBooks Online.