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The information provided is for educational purposes only and does not constitute legal, tax, or financial advice. For specific advice, consult a licensed attorney or CPA. The text discusses the Operating Agreement of an LLC, which is an internal document that outlines the management structure and financial operations of the LLC. Unlike LLC Formation Documents, the Operating Agreement is not submitted to the state and must be retained with business records. It details the members of the LLC, their ownership percentages (membership interests), and the management and taxation processes of the LLC. All content is copyright protected and cannot be redistributed without permission.