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This information is for educational purposes only and not legal, tax, or financial advice. For specific guidance, consult a licensed attorney or CPA. The content is protected by copyright and cannot be redistributed or modified without permission. An Operating Agreement is a document for LLC members that outlines management and operational procedures. Unlike LLC Formation Documents, it is not submitted to the state and is maintained internally. The agreement details the members' identities, their ownership percentages (membership interest), and the management structure of the LLC, including tax responsibilities.
