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The information presented is for educational purposes only and does not constitute legal, tax, or financial advice. For specific needs, consulting a licensed attorney or CPA is recommended. The content is copyright protected and cannot be reused without the author's consent. An Operating Agreement for an LLC outlines the management structure and financial responsibilities of its members. Unlike LLC Formation Documents, it does not need to be filed with the State and is considered an internal document. The Operating Agreement identifies the members, their ownership percentages, and defines the management and tax procedures of the LLC.