Possession of currency for tax avoidance purposes.

Checkout our iOS App for a better way to browser and research.

§231-99 Possession of currency for tax avoidance purposes. It shall be unlawful for any person engaged in business in this State to possess currency in the form of coin or note, where the possession is for tax avoidance purposes. It shall be the department's burden to establish that currency is possessed for tax avoidance purposes; provided that circumstantial evidence may be used by the department in any proceeding. Any person who violates this section shall be subject to a fine not to exceed $2,000; provided that if the person is a cash-based business, the fine shall not exceed $3,000. [L 2009, c 134, pt of §2, §13(3); am L 2013, c 58, §1]


Download our app to see the most-to-date content.