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The information provided is for educational purposes only and does not constitute legal, tax, or financial advice; consulting a licensed attorney or CPA is recommended for specific needs. The content is copyright protected and cannot be redistributed without consent. An Operating Agreement is an internal document for LLC members that outlines the LLC's management and financial operations. It doesn't need to be submitted to the State like Formation Documents. This agreement details the members' identities, their ownership percentages (membership interests), and the management structure of the LLC, including tax handling.