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The information provided is for educational purposes and does not constitute legal, tax, or financial advice. For specific advice, consulting a licensed attorney or CPA is recommended. This material is copyrighted and cannot be redistributed or modified without permission. An Operating Agreement outlines the management and operational procedures of an LLC and is an internal document not required to be filed with the State. It details the members of the LLC, their ownership percentages (membership interests), and how the LLC is managed and taxed. Keep a copy with business records for reference.