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Julie owns a gun and has for several years. She is arrested for possession of a firearm within the city where she lives. The day following her arrest, the city passes a law making gun ownership of any kind illegal and punishable by a year in jail for the first offense. Julie is sentenced to one year and a day in prison.
Tax Loss
A loss that can be used to offset taxable income, thus reducing the taxes owed by an individual or corporation.
Government
A system or group of people governing an organized community, often a state.
Tax System
The legal framework and set of rules governing how taxes are collected and managed by a governing authority.
Incentivize
To provide incentives or motivations to encourage specific behaviors or actions.
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