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The information provided is for educational purposes only and does not constitute legal, tax, or financial advice. For specific guidance, consult a licensed attorney or CPA. The Operating Agreement is a key internal document for LLCs, detailing management structure and financial operations. Unlike LLC Formation Documents, it doesn't need to be filed with the state; it should be kept with business records. This agreement outlines the members of the LLC, their ownership percentages (membership interest), and management procedures including tax obligations. Redistribution of this information requires prior written consent from the author.