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The provided information is for educational purposes only and does not serve as legal, tax, or financial advice. For specific guidance, consulting a licensed attorney or CPA is recommended. The content is copyright protected and cannot be redistributed or modified without permission. An Operating Agreement is an internal document for LLC members outlining financial and operational management. Unlike LLC Formation Documents, it does not need to be submitted to the State. The Agreement specifies member identities, their ownership percentages (membership interests), management structure, and tax obligations. Keep it with your business records.