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The information provided is for educational purposes only and does not serve as legal, tax, or financial advice. For specific needs, consultation with a licensed attorney or CPA is recommended. The content is copyrighted and cannot be redistributed or modified without consent. An Operating Agreement is an internal document for LLC members that details the management and operations of the business. Unlike LLC Formation Documents, it does not need to be submitted to the state but should be kept with business records. The Operating Agreement outlines member identities, their ownership percentages, and management processes.