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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 29 - Labor |
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Subtitle B - Regulations Relating to Labor |
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Chapter V - Wage and Hour Division, Department of Labor |
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SubChapter B - Statements of General Policy or Interpretation Not Directly Related to Regulations |
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Part 779 - The Fair Labor Standards Act as Applied to Retailers of Goods or Services |
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Subpart C - Employment to Which the Act May Apply; Enterprise Coverage |
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Annual Gross Volume of Sales Made or Business Done |
§ 779.260 - Trade-in allowances.
Latest version.
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§ 779.260 Trade-in allowances.
Where merchandise is taken in trade when a sale is made, the annual gross volume of sales or business will include the gross amount of the sale before deduction of the allowance on such trade-in merchandise. This is so even though an overallowance or excessive value is allowed on the trade-in merchandise. In turn, when the trade-in merchandise is sold the amount of the sale will be included in the annual gross volume.