Good questions...it does take a lot of research to know if homeschooling is right for you. It took me a long time to make a decision, in fact at one point I was sure I was going to send my kids to school...but the more I read about it, the more I wanted to homeschool. To learn about the laws in your state I'd go to the Homeschool Legal Defense Agency website, from there you can find out the laws in your state, the address is
www.hslda.org
Also I think a great book to just learn more reasons to homeschool I'd read John Holt's book "Teach Your Own", this book is just awesome, I couldn't put it down when I got it. John Holt was a teacher who tried to reform the education system, but decided that children were better of learning at home.
There are a lot of different education styles out there, I'm leaning toward unschooling right now. A good book to read about homeschooling in general is the Homeschooling Handbook and Homeschooling the Early Years. Good luck in your decision!