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This information is for educational purposes only and is not legal, tax, or financial advice. Consult a licensed attorney or CPA for specific needs. The text emphasizes that an Operating Agreement is an internal document for an LLC, establishing how it will be managed financially and operationally. Unlike LLC Formation Documents, it doesn't need to be filed with the state but should be retained with business records. The Operating Agreement outlines the members of the LLC, their ownership percentages, and management procedures, as well as tax implications. Proper consent is required for redistributing or modifying the content.