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The provided information is for educational purposes only and does not constitute legal, tax, or financial advice. For specific needs, consult a licensed attorney or CPA. The content is copyright protected and cannot be redistributed without consent. An Operating Agreement is an internal document for LLC members, detailing management and ownership percentages (membership interest). It does not need to be filed with the State, unlike LLC Formation Documents. The agreement outlines how the LLC is managed and how taxes are handled. It's essential to keep a copy of this agreement with your business records.