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This information is for educational purposes only and does not constitute legal, tax, or financial advice. For specific advice, consult a licensed attorney or CPA. The content is copyright protected and cannot be redistributed without consent. An Operating Agreement is an internal document for LLC members that outlines management, financial operations, member identities, and ownership percentages. It does not need to be filed with the state and should be kept with business records. The purpose is to clarify member roles and management structure, as well as tax handling within the LLC.