European Stars And Stripes (Newspaper) - June 9, 1985, Darmstadt, Hesse                                June 1985 the stars and stripes Page 19 business news Southwest top income growth Washington a the Rocky Mountain Region and the Southwest Are expected to make the biggest gains in personal income Over the next 15 with the Small est increases predicted for the great lakes and Mideast the Commerce department personal income in the United states is expected to increase percent per year until investors guide by William Doyle a grandmother has found a Way to Transfer the Federal income tax liability on the interest that has built up on my old series e savings Bonds from my name to my Young granddaughters i had the Bonds reissued in co ownership form in my name or her at that i gave the Bank my granddaughters social Security which was put on the her parents then Cash the Bonds for the Little because we Are cautious and make sure that the total amount of accumulated interest on the Bonds redeemed each year does not exceed no income tax has to be she has no other so no income tax return has to be filed for what do you think of my plan in not questioning your motives and your generosity toward your but i do have to warn that youll be in trouble if the internal Revenue service Ever gets wind of what you Are whether you realize you Are fracturing rules right and there is no legitimate Way to Transfer the tax liability on accumulated savings Bond interest from one living person to another living your foxy plan will work Only with e Bonds issued before since that All buyers of Sav Ings Bonds have been required to provide their social Security which Are inscribed on when a savings Bond already has an is number on you cant have the is number changed when the Bond is reissued in co ownership even in the Case of old savings Bonds without social Security numbers on you would have to fib to the banker to have your granddaughters number put you might have an extremely Friendly banker who  question your Many parents and other adult relatives would love to shift the tax liability on savings Bond interest to Young family no use your method and Hope the irs never finds i have Many series e savings Bonds All in my to my daughters i want to Exchange these Bonds for series he which pay current interest of when i do will it be permissible to have the Bonds registered in co ownership form my druthers name or my granddaughters name leaving my name off i want my daughter to receive the he Bond interest and also to be responsible for income tax on the accumulated e Bond interest when Bonds Are in beneficiary As yours you can change the beneficiary your in this of stands for pay Able on but you cant change the owner no matter youre responsible for the Federal income tax that has built up on the e As youll also be responsible for the tax on the he Bond you cant legitimately Duck those tax bites As Long As youre stil breathing this earths by exchanging the is for youll postpone the tax on the e Bond interest until the has Are redeemed or reach final if youve joined the choir silent by that your daughter will own the Bonds and have All the tax a customer of the savings and loan association at which i work cashed some series e and be savings one of the Bonds was in his sons i refused to Cash my manager says she thinks there is some Way a Parent can redeem a savings Bond for a Young is that True a savings Bond owned by a minor can be redeemed by a Parent who certifies the Childs the fact that the child is not of sufficient competency and understanding to request payment and that the child lives with the that certification should be typed or written on the Back of the Bond and the Bond can be cashed on the parents these and Many other details Are spelled out in the Book on savings a guide issued to All savings Bond issuing and paying there must be a copy someplace in your Washino to write to Kino features columnist Porte May care of and Apo us incomes Are expected to grow by percent a year in Rocky Mountain percent in the percent in both the far West and percent in new percent in the Plains and percent in both the Mideast and great the 10 states projected to have the largest average annual increases Are percent Nevada 3 9 percent percent percent percent percent percent new percent new per pacts made with Eastern nations cent and most of the 10 Are expected to have Large increases in both labor and proprietors earnings in both durables and nondurable mining and private service the department the 10 expected to have the smallest increase Are percent percent new percent Ohio 2 percent West 2 percent percent percent percent percent and signs 3 Afeef agreements Washington a the Reagan administration has signed steel Export agreements with three More coun tries As part of its program to reduce the foreign share of the steel the latest five year retroactive to were reached with Czechoslovakia and Hun Deputy Trade representative Robert Lighthizer Romania agreed to limit its exports to the United states to tons per Czechoslovakia to tons per year and Hungary to tons per Lighthizer last american imports from those countries totalled the agreements bring to 11 the number of steel pacts negotiated so following a directive by president Reagan last septem the United states sought deals with major steel exporters to reduce the foreign share of the Market from about 25 percent to about previous agreements were reached with Bra South South and Lighthizer also said tuesday that two Domestic steel Lone Star and had agreed to drop unfair Trade complaints filed Over steel shipments from Brazil and the complaints focused on steel products commonly used in the production of Oil drilling equip the Reagan administration had urged the companies to drop their our trading partners signed voluntary restraint agreements in Good Faith with and our companies have an obligation to keep their end of the bargain by agreeing to withdraw their unfair Trade complaints or face Elimina Tion of these products from the Lighthizer last John chairman of the Senate steel said loopholes in the administrations steel import program were enabling the influx of foreign steel to without identifying Heinz said countries Are disguising their shipments of steel by first sending them to nations not subject to steel shipment those countries then pass the steel on to the United he the Reagan administration has said the program is watertight but that it is too Early to assess its Success because of lags Between steel orders and icing on the cake be 50 billionth share of Stock available on the new York lines president Radcliffe Latimer and Stearns left to right Goldring specialist George Erdman nose president Robert Tran Canada pipe celebrated Tran Canadas historic