What does retail sales tax apply to?

Retail sales tax primarily applies to goods purchased by consumers. This tax is levied on the sale of tangible personal property and certain services, with the intent of collecting revenue based on consumer transactions. When consumers buy physical products, such as clothing, electronics, or furniture, the retail sales tax is added to the purchase price and collected by the seller at the point of sale.

The other options, while related to financial matters, do not pertain to the application of retail sales tax. Income generated by businesses is typically subject to income tax rather than sales tax. Investment earnings are also taxed separately, not through sales tax. Property sales, particularly those between individuals not involving a retailer, may be subject to different taxes (like property taxes or capital gains taxes) rather than retail sales taxes. Hence, the correct choice reflects the specific tax structure designed to regulate consumer purchasing behavior.