26 U.S.C. § 6718

Current through P.L. 118-106 (published on www.congress.gov on 10/04/2024)

Section 6718 - Failure to display tax registration on vessels

(a) Failure to display registration

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.

(b) Multiple violations

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).

(c) Reasonable cause exception

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.

26 U.S.C. § 6718

Added and amended Pub. L. 108-357, title VIII, §§861(b)(1), 862(b), Oct. 22, 2004, 118 Stat. 1618, 1619.

EDITORIAL NOTES

AMENDMENTS2004-Subsec. (a). Pub. L. 108-357, §862(b), substituted "section 4101(a)(3)" for "section 4101(a)(2)".

STATUTORY NOTES AND RELATED SUBSIDIARIES

EFFECTIVE DATE OF 2004 AMENDMENT Amendment by section 862(b) of Pub. L. 108-357 effective Jan. 1, 2005, see section 862(c) of Pub. L. 108-357, set out as a note under section 4101 of this title.

EFFECTIVE DATE Pub. L. 108-357, §861(c)(2), Oct. 22, 2004, 118 Stat. 1619, provided that: "The amendments made by subsection (b) [enacting this section] shall apply to penalties imposed after December 31, 2004."

person

The term "person" shall be construed to mean and include an individual, a trust, estate, partnership, association, company or corporation.