26 U.S.C. § 6718 — Failure to display tax registration on vessels
submitted 22 years ago by Pub. L. 108-357 to r/title-26-INTERNAL-REVENUE-CODE · 142 words · no verdicts yet
A vessel operator who does not display required registration proof owes $500 per failure, with one penalty per vessel per calendar month. The amount can rise for repeated violations, unless reasonable cause is shown.
(a) Failure to display registration. An operator who fails to display proof of registration under section 4101(a)(3) must pay $500 for each failure. For a vessel, this section imposes only one penalty in a calendar month.
(b) Multiple violations. For a person, the subsection (a) amount is increased by that amount multiplied by the total number of penalties imposed for prior months under this section on that person, a related person, or a predecessor of either.
(c) Reasonable cause exception. No penalty applies to a failure shown to be caused by reasonable cause.
Every operator of a vessel who fails to display proof of registration pursuant to section 4101(a)(3) shall pay a penalty of $500 for each such failure. With respect to any vessel, only one penalty shall be imposed by this section during any calendar month.
In determining the penalty under subsection (a) on any person, subsection (a) shall be applied by increasing the amount in subsection (a) by the product of such amount and the aggregate number of penalties (if any) imposed with respect to prior months by this section on such person (or a related person or any predecessor of such person or related person).
No penalty shall be imposed under this section with respect to any failure if it is shown that such failure is due to reasonable cause.
Source credit: (Added and amended Pub. L. 108–357, title VIII, §§ 861(b)(1), 862(b), Oct. 22, 2004, 118 Stat. 1618, 1619.)
- 2004Enacted · Pub. L. 108-357 · 118 Stat. 1618, 1619
A history note hasn’t been published yet. The record shows enactment by Pub. L. 108-357 on 2004-10-22.
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