The 2020-21 Budget: Overview of the Governor's Budget

Jan 13, 2020 - Recently, corporation tax collections have grown faster than anticipated while personal income tax collections have grown somewhat slower. The administration assumes that this pattern will continue. This is because they attribute the pattern to partnerships, which are taxed under the personal income tax, changing to corporations in response to 2017 federal tax changes.
https://lao.ca.gov/Publications/Report/4135