Expanding the range of available aliovalently doped semiconductor nanocrystals has largely been motivated by the potential for realizing and controlling plasmon-exciton coupling in a single phase. Recently discovered possibility to induce excitonic Zeeman splitting in plasmonic semiconductor nanocrystals using circularly polarized light in an external magnetic field allows for intriguing technological applications. However, to implement such opportunities, it is essential to develop a robust understanding of the parameters that influence plasmon-induced carrier polarization. Here, we report a comparative investigation of the plasmonic properties of Mo-doped In 2 O 3 (IMO) and W-doped In 2 O 3 (IWO) nanocrystals, with a particular emphasis on the role of plasmonic properties on excitonic splitting. In contrast to tungsten dopants, which are predominantly in 6+ oxidation state, molybdenum coexists as Mo 5+ and Mo 6+ , resulting in a lower dopant activation in IMO compared to that in IWO nanocrystals. By manipulating the plasmonic properties of these two nanocrystal systems, such as localized surface plasmon resonance energy, intensity, and damping, we identified two opposing influences determining the excitonic Zeeman splitting induced by magnetoplasmonic modes. Localized surface plasmon resonance oscillator strength, commensurate with free carrier density, increases, while plasmon dephasing, caused by electron scattering, decreases the transfer of the angular momentum from the magnetoplasmonic modes to the conduction band electronic states. The results of this work contribute to a fundamental understanding of the mechanism of nonresonant plasmon-exciton coupling and magnetoplasmon-induced Zeeman splitting in degenerate semiconductor nanocrystals, allowing for the design of multifunctional materials with correlated plasmon and charge degrees of freedom.