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The information provided is for educational purposes only and does not constitute legal, tax, or financial advice. For specific needs, consult a licensed attorney or CPA. The content is copyright protected and cannot be redistributed without consent. An Operating Agreement outlines the management of an LLC, detailing its financial and operational structure. Unlike LLC Formation Documents, it is an internal document and does not need to be filed with the state. The Agreement specifies the members' identities, their ownership percentages (membership interest), and the management process of the LLC, including tax considerations.