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This tutorial provides information 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 an internal document for LLC members, detailing management structure and ownership percentages (membership interests). Unlike LLC Formation Documents, it is not filed with the State but should be kept with business records. The agreement outlines member roles, management procedures, and tax responsibilities.