An anomaly described in a recent IRS ruling says there is a big, but subtle, difference. Robert Willens, CFO.com | US. February 20, 2008. A fine line exists between definitions of a corporate liquidation and dissolution. But for tax purposes, the defining line can make a big difference. Witness the situation described in recent letter from the Internal Revenue Service (LTR 200806006, November 7, 2007), which addresses a seeming anomaly related to the tax code. The anomaly is corporate dissolution without liquidation.
a person with the ability or power to use, control, or dispose of something: a master of six languages; to be master of one's fate. 2. an owner of a slave, animal, etc. 3. an employer of workers or servants. 4. the male head of a household.
Master is used sometimes, especially up to circa late-19th century, especially in the UK to describe the male head of a large estate or household who employs domestic workers. The heir to a Scottish lordship, barony or viscountcy is given the style or dignity Master of followed by his father's title. For instance, the heir of Lord Elphinstone is known as the Master of Elphinstone. Current usage in USA