(1) The excise tax imposed under this chapter is due and payable to the department of licensing, county auditor or other agent, or subagent appointed by the director of the department of licensing at the time of registration of a vessel. The department of licensing shall not issue or renew a registration for a vessel until the tax is paid in full.
(2) Twenty-five percent of the excise tax collected each fiscal year under this chapter must be deposited in the derelict vessel removal account created in RCW 79.100.100. The remaining excise tax collected under this chapter must be deposited in the general fund.