This is the 8431st most frequent Russian word.
налоговым
"Tax" or "related to taxes."
Here, 'налоговым' is used to describe the tax-related authority ('орган'). It is in the instrumental case, indicating the agent performing the action.
Налоговым органом было принято важное решение.
An important decision was made by the tax authority.
In this sentence, 'налоговом' modifies the noun 'законодательстве' (legislation), denoting its tax-related context and is in the prepositional case indicating location or topic.
Мы обсудили изменения в налоговом законодательстве.
We discussed changes in the tax legislation.
Here, 'налогового' describes 'климата' (climate), showing possession or relation to tax within a genitive case structure.