The Bureau of Economic Analysis estimates of Nebraska's gross state product in 2004 was $68 billion. Per capita personal income in 2004 was $31,339, 25th in the nation.

Nebraska has a large agriculture sector, and is an important producer of beef, pork, corn (maize), and soybeans. Other important economic sectors include freight transport (by rail and truck), manufacturing, telecommunications, information technology, and insurance.

Nebraska has four personal income tax brackets, ranging from 2.56% to 6.84%. Nebraska has a state sales tax of 5.5%. In addition to the state tax, some Nebraska cities assess a city sales and use tax, up to a maximum of 1.5%. One county in Nebraska, Dakota County, levies a sales tax. All real property located within the state of Nebraska is taxable unless specifically exempted by statute. Since 1992, only depreciable personal property is subject to tax and all other personal property is exempt from tax. Inheritance tax is collected at the county level.

Industry

Kool-Aid was created in 1927 by Edwin Perkins in the city of Hastings, which celebrates the event the second weekend of every August with Kool-Aid Days. Kool-Aid is the official soft drink of Nebraska. CliffsNotes were invented in Rising City, Nebraska by Clifton Hillegass. His pamphlets were based on the original Canadian idea, "Coles Notes."

Omaha is home to Berkshire Hathaway, whose CEO Warren Buffett was ranked in March of 2008 by Forbes magazine as the richest person in the world. This city is also home to InfoUSA, TD Ameritrade, West Corporation, Valmont Industries, Woodmen of the World, Kiewit Corporation, and Union Pacific Railroad. UNIFI Companies, Sandhills Publishing Company and Duncan Aviation reside in Lincoln while The Buckle is based out of Kearney. Sidney is the national headquarters for Cabela's, a specialty retailer of outdoor goods.

The world's largest train yard, Union Pacific's Bailey Yard, is located in North Platte. The Vise-Grip was invented and is still manufactured in De Witt. Memorial Stadium on the University of Nebraska campus in Lincoln holds 85,157 people. During football games, it holds almost twice the population of Bellevue (47,954) the third-most populous city in the state. The second-largest Powerball payout was on February 18, 2006. It was $365 million and was split 8 ways by workers from a Lincoln food plant operated by ConAgra.