Final answer:
Bridge Inc. must file its corporate tax return by June 30, Year 6, which is six months after the fiscal year-end on December 31, Year 5. It's crucial to meet this deadline to avoid any penalties.
Step-by-step explanation:
Filing Deadline for Corporate Tax Returns
For Bridge Inc., a public company that has earned $100,000 in business income for the taxation year ending December 31, Year 5, the deadline to file the corporate tax return is typically six months after the end of their fiscal year. Since the fiscal year ended on December 31, Year 5, the company would need to file its tax return by June 30, Year 6. It’s important to file by the deadline to avoid penalties and interest on any unpaid taxes. The corporation pays income tax based on the profits it earned, and these taxes go to the federal government, which considers corporate income taxes the third largest category of taxes collected.
Being aware of the filing deadline is crucial for effective business operation, and proper tax planning can influence a company's financial strategy. Though there are several corporate tax brackets, Bridge Inc. would have to calculate tax based on its specific taxable income for the year in question.