[Code of Federal Regulations]
[Title 29, Volume 3]
[Revised as of July 1, 2005]
From the U.S. Government Printing Office via GPO Access
[CITE: 29CFR794.124]

[Page 708]
 
                             TITLE 29--LABOR
 
         CHAPTER V--WAGE AND HOUR DIVISION, DEPARTMENT OF LABOR
 
PART 794_PARTIAL OVERTIME EXEMPTION FOR EMPLOYEES OF WHOLESALE OR BULK 
 
Subpart B_Exemption From Overtime Pay Requirements Under Section 7(b)(3) 
                               of the Act
 
Sec. 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 Sec. 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.