Code of Federal Regulations (Last Updated: November 8, 2024) |
Title 29 - Labor |
Subtitle B - Regulations Relating to Labor |
Chapter V - Wage and Hour Division, Department of Labor |
SubChapter B - Statements of General Policy or Interpretation Not Directly Related to Regulations |
Part 794 - Partial Overtime Exemption for Employees of Wholesale or Bulk Petroleum Distributors Under Section 7(B)(3) of the Fair Labor Standards Act |
Subpart B - Exemption From Overtime Pay Requirements Under Section 7(b)(3) of the Act |
Annual Gross Volume of Sales |
§ 794.124 - Computations on a fiscal year basis.
Latest version.
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§ 794.124 Computations on a fiscal year basis.
Some enterprises operate on a fiscal year, consisting of an annual period different from the calendar year, for income tax or sales or other accounting purposes. Such enterprises in applying the method of computation in § 794.123(c) may use the four quarters of the fiscal period instead of the four quarters of the calendar year. Once adopted, the same basis must be used in subsequent calculations.