Trucking: percentage pay, overtime compensation, disclosure act

Question
where do you find rules and regs for the trucking company
on what or how they can pay you when your percentage

is there such thing is an disclosure act
thank you

Answer
Boyd, I assume you are an owner operator and as such you are an independent business person who may contract with the carrier on any mutually agreed upon legal compensation for your services.  This can be mileage based or percentage based.  

If you agree to a percentage based contract be sure that it has appropriate disclosure requirements so you can verify the validity of your settlememnts.

I am not aware of any company employment being based on a percentage but if that's the case it would be subject to the normal federal and state wage and hour regulations governing minimum wage and overtime compensation.

In my opinion a mileage or activity based scheme is more fair and a better business arrangement for carriers, contractors and employees, but you are free to choose based on the total package that fits your needs.

Best of luck.
Jim.