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In this video tutorial, the importance of a single-member LLC operating agreement is discussed. This document is essential for all LLCs, as it officially states the ownership and provides legal separation between personal and business assets. It is a requirement in states like California, Delaware, Maine, Missouri, and New York, even for single-member LLCs. Without an operating agreement, proving the LLC as a separate entity from personal assets can be challenging, especially when questioned by authorities like the IRS. The tutorial promises to guide viewers through the easy and quick process of filling out this important form in less than five minutes.