Yes there is such a violation. You can not accelerate to a point where you make any unnecessary or loud noises, such as high revving engine or screeching tires. This comes to play if you are not doing this for emergency purposes. It falls into a "having control of your vehicle" type clause. If you're burning rubber, you're deemed as not having control of it. It could also be seen as reckless driving.

I understand this ticket can be around $80-100. It can be as much as 4 points on your license as well. Later, QD.