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The provided information is for educational purposes only and does not constitute legal, tax, or financial advice. For specific guidance, it is recommended to consult a licensed attorney or CPA. The text discusses the Operating Agreement of an LLC, which is an internal document outlining the management of the LLC. It details the members of the LLC and their ownership percentages (membership interest). Unlike LLC Formation Documents, the Operating Agreement does not need to be filed with the state but should be kept with business records. Its purpose includes defining management structures and tax matters concerning the LLC. All content is copyright protected and may not be copied or redistributed without permission.