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The information is intended for educational purposes only and does not serve as legal, tax, or financial advice. For specific advice tailored to business needs, consulting a licensed attorney or CPA is recommended. The content is copyright protected and cannot be redistributed without permission. An Operating Agreement is an internal document among LLC members that outlines how the LLC will be managed financially and operationally. It does not need to be submitted to the state, and a copy should be kept with business records. The agreement specifies member identities, ownership percentages, management procedures, and tax-related details.