New Mexico Conversions — Domestic Profit Corporations are business entities that are organized and established under the laws of the state of New Mexico. These entities are owned by shareholders and are legally recognized as distinct from their owners. They are formed to conduct business and are subject to the same laws and regulations as regular corporations. They can be formed for any lawful purpose, including the purchase and sale of goods and services, the owning and leasing of real estate, and the offering of financial services. There are three types of New Mexico Conversions — Domestic Profit Corporations: Regular, Close, and Professional. A Regular Domestic Profit Corporation is the most common type and is used for most business purposes. A Close Domestic Profit Corporation is formed when the owners want to limit their personal liability, and a Professional Domestic Profit Corporation is used to provide professional services to the public.