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The information provided is for educational purposes only and does not constitute legal, tax, or financial advice. For specific needs, consulting with a licensed attorney or CPA is recommended. The content is copyright protected and cannot be redistributed without written consent from the author. An Operating Agreement is an internal document outlining the management of an LLC, detailing ownership percentages and membership interests. It does not need to be filed with the state, but should be kept with business records. The Agreement clarifies the structure of the LLC and how it is operated financially and operationally.