A race car is a race car. You can not take a street car, and just call it a race car.
To import a car permanently as a race car, it needs to have a race history, and it needs to be raced in the US. Lots of guys talk about "track" cars, etc, there is NO SUCH THING as a track car. It does not exist. Not legally.
It does not change the fact that the car was imported illegally. You don't want to be the one with the hot potato when ICE comes looking for the car. If you are you get burned.
http://vehicleimport.blogspot.com/2007/ ... ly-to.html