Small Business Regulatory Equity Act of 2008 - Directs the Comptroller General of the United States to report to Congress on the Comptroller General's analysis of the impacts of federal regulations on businesses with 15 or fewer, 16 to 35, and 36 to 50 employees. Requires the report to detail the cost and impacts of federally mandated, state-administered regulations, the time such businesses must spend working with agencies attempting to obtain written responses to their written questions, the time that passes between submitting such questions and receiving responses, how long projects are delayed by federal regulations, and how long it takes small business to obtain permits from federal agencies. Requires the report to cover, and treat separately, direct impacts such as wages, time, and fees spent on compliance and indirect impacts such as cash flow, sales, and competitiveness.