Corporate profits taxes account for a relatively small share of revenues in leading industrial countries but represent a potentially important source of economic distortion. The incidence of corporate taxes has traditionally been assigned to owners of capital, but more recent theories have suggested that many other groups, from shareholders to owners of other domestic factors of production, may share the burden, and that the burden itself may be overstated. Although commonly described as taxes on income, corporate profits taxes may have quite different bases, making the economic effects potentially quite different from those of a tax on corporate source income.