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The provided information serves educational purposes only and does not constitute legal, tax, or financial advice. For specific guidance, it is recommended to consult a licensed attorney or CPA. The content is copyright protected and cannot be redistributed without consent. An Operating Agreement is an internal document for LLC members outlining financial and operational management. Unlike LLC Formation Documents, it doesn't need to be filed with the State but should be kept with business records. The Agreement specifies the members, their ownership percentages (membership interest), and the LLC's management structure, including tax-related provisions.