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The provided information serves educational purposes and does not constitute legal, tax, or financial advice. For specific guidance, consulting a licensed attorney or CPA is recommended. This content is copyright protected and cannot be redistributed without consent. An Operating Agreement is a document for LLC members detailing management and operational procedures. Unlike LLC Formation Documents, it does not need to be filed with the State but should be kept with business records. The Operating Agreement identifies the members and their ownership percentages, and outlines the LLC's management and tax processes.