In the early morning hours of April 1, 2015, the New York State Legislature enacted the final 2015-2016 New York State Budget. Among the key tax components are the enactment of New York City corporate tax reform (S. 4610, A. 6721, Part D), various technical changes to Article 9-A (S. 2009-B, A. 3009-B, Part T), including substantive changes to the definition of “investment capital,” and a new cap on the sales and use tax imposed on vessels (S. 2009-B, A. 3009-B, Part SS). Significantly, the final legislation does not include the controversial “marketplace provider” and sales tax “loophole” closer provisions that had been proposed by Governor Cuomo in his Executive Budget.