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The provided information is for educational purposes only and does not constitute legal, tax, or financial advice. For specific needs, 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 that outlines management and operational procedures. It does not need to be submitted to the State and should be kept with business records. The agreement details the members' identities, their ownership percentages (membership interest), and how the LLC is managed and taxed.