Consider this, without said safety equipment your chances of surviving a front end collision diminish significantly, with a steering wheel implanted into your chest I seriously doubt you would survive. Any laws against removing said safety equipment and/or passing a safety inspection at that point become rather moot.
With that said, depends on whether or not your state requires a yearly inspection. Mine does not, they did away with them about 20 yrs ago. The only inspection they do now is if the vehicle is bought in another state and then titled and registered here, then you do need an inspection performed with the highway patrol. Vehicles bought in state you do not.