Consultant to Employee — Keep Overtime?

I am a consultant who is about to convert to an employee, so I can work on Windows 2000 deployment to a conglomeration of over 40 companies. Because my salary is less than $60k/year, I have been told that by law, my overtime must be time + half, andhave had it changed that way.

I expect to work heavy hours in this position when I convert to an employee, and time + half is a BIG bonus as a consultant. Can any of you give me some advice on how to retain my overtime when I convert to an employee? Is there a particular approach I should take when bringing it up, how do I use this as a negotiation point, etc.

Thanks for your help.