How to be respectful about leaving?

Recently signed at an EB for summer 2023. I have an upcoming 2022 internship with a BB who basically gives return offers to 100% of sophomores. I will be turning down the offer obviously because I already signed. Should I tell the BB before the summer? Should I just reject when they offer a return at the end? I don't want to step on toes here. What is the most respectful way to go about this?

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