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The provided information is for educational purposes only and should not be considered legal, tax, or financial advice. For specific guidance, 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 outlining management and financial operations. Unlike LLC Formation Documents, it does not need to be filed with the State. The Agreement details member identities and their ownership percentages (membership interest), as well as management structure and tax responsibilities of the LLC.