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This text serves an educational purpose and does not constitute legal, tax, or financial advice. For specific guidance, consulting a licensed attorney or CPA is recommended. The information is protected by copyright. An Operating Agreement is an internal document for LLC members, outlining the management structure and financial operations of the LLC. Unlike LLC Formation Documents, it does not need to be filed with the State but should be kept with business records. The agreement details member identities, ownership percentages, and management procedures, and may include tax-related provisions. Redistribution or modification of this content requires written consent from the author.