If you’ve been following our sister blog, Legislative Insider (or haven’t been living under a rock), you know that Maryland’s General Assembly has enacted $1.4 billion in new taxes in an effort to fix the state’s budget shortfall.

There are a ton of resources that provide details about the new law. Here are some of our favorites:

• Maryland Comptroller summary of 2008 tax changes
• MACPA recaps, courtesy of Legislative Insider
• Summary from the Department of Legislative Services
• Summary from the Maryland Chamber of Commerce
• Corporate reporting requirements: A summary from Sutherland Asbill and Brennan

Finally, if you’d rather listen to a summary of the special session, check out this MACPA podcast. Executive Director Tom Hood offers a recap of the legislation and looks ahead to the General Assembly’s 2008 session.

What are your initial reactions to the new tax law?