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The information provided is for educational purposes only and does not constitute legal, tax, or financial advice. For tailored advice, it's recommended to 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 outlining financial and operational management. It does not need to be filed with the state but should be kept with business records. The agreement specifies member identities, their ownership percentages, and details how the LLC will be managed and taxed.