Nevada does not exchange information with the IRS! In Nevada no financial or ownership information is shared. Nevada has become the domestic haven of choice, offering an unmatched and powerful pro-business and pro-asset protection environment.
Internal Revenue Code (IRC) § 6103 (b)(2)(A).Returns and return information . . . shall be open to inspection by, or disclosure to, any State agency, body, or commission, or its legal representative, which is charged under the laws of such State with responsibility for the administration of State tax laws for the purpose of, and only to the extent necessary in, the administration of such laws[.]
In order to put ß 6103 into action, 48 states, Washington, D.C., Guam and American Samoa have entered into "agreements of cooperation" with "the IRS on the exchange of information on taxpayers," according to the CCH Standard Federal Tax Reporter, vol. 15 (2002), 36,894.576 at 64,490. Two states that possess no such agreement with the IRS are Nevada and Texas.
