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The information provided is for educational purposes only and is not legal, tax, or financial advice. For specific guidance, it is recommended to consult a licensed attorney or CPA in your state. The content is copyright protected and cannot be redistributed or modified without consent from the author. An Operating Agreement is an internal document for LLC members detailing financial and operational management. It does not need to be submitted to the State and should be kept with business records. The agreement outlines the members' identities, their ownership percentages (membership interests), and management processes of the LLC, including tax handling.