Tax analysts have long debated how to assign the corporate income tax burden among households. The increased international mobility of capital has raised the share of burden analysts assign to labor income; if the tax shifts investment overseas, that reduces the capital per worker. But the growth in the share of corporate profits from intangible assets has raised the share they assign to capital income, since intangible assets generate profits without regard to where physical assets are located. On balance, we conclude that, for a wide range of assumptions, upper-income households bear most of the burden of the corporate tax.