Business Situs

What does Business Situs mean in American Law?

The definition of Business Situs in the law of the United States, as defined by the lexicographer Arthur Leff in his legal dictionary is:

When intangible assets (e.g., notes, mortgages, etc.) are, as by being used in a business there, closely enough attached to a location as to be taxed there, they are said to have there a business situs.