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The provided information is for educational purposes only and does not constitute legal, tax, or financial advice. For specific advice, consult a licensed attorney or CPA. The content is copyright protected and cannot be redistributed or modified without consent. An Operating Agreement is essential for LLC members, outlining management and operational procedures. Unlike LLC Formation Documents, it is an internal document that does not need to be filed with the State. The agreement details the members' identities, their ownership percentages, and management structure, alongside taxation processes for the LLC. Keep a copy with your business records.