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The provided information is for educational purposes only and does not constitute legal, tax, or financial advice. For specific guidance, consult a licensed attorney or CPA. The content is copyright protected and cannot be redistributed or modified without consent. An Operating Agreement is an internal document for LLC members, detailing financial and operational management. Unlike LLC Formation Documents, it is not submitted to the State, but should be retained with business records. The Agreement outlines member identities, their ownership percentages (membership interests), and management structure, as well as tax regulations.