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The provided information is for educational purposes only and does not constitute legal, tax, or financial advice. For specific advice, consult a licensed attorney or CPA. The text discusses the Operating Agreement for an LLC, which outlines management and operational procedures. Unlike LLC Formation Documents, the Operating Agreement is an internal document that doesn't need to be filed with the state but should be kept with business records. It specifies the members of the LLC, their ownership percentages (membership interest), and management structure, including tax considerations. Redistribution of the material requires prior written consent from the author.