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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 text emphasizes that the information is copyright protected and cannot be redistributed without permission. An Operating Agreement is a crucial document for LLC members, detailing financial and operational management. Unlike LLC Formation Documents, the Operating Agreement is internal and does not need to be filed with the state; it should be kept with business records. It outlines members, their ownership percentages, and how the LLC will be managed and taxed.