Whisk all ingredients except the liquid smoke in a small saucepan. Bring up to a simmer and as soon as the butter is melted and ingredients are incorporated, remove from heat.

Add the liquid smoke right before using whether using immediately or set aside or refrigerated for later; the flavor of the liquid smoke is strong at first but dissipates quickly.

To store, refrigerate, preferably in a tightly lidded glass jar. May need to be slightly warmed to bring back to desired consistency (the butter in the recipe will harden at refrigerator temperatures) and whisked or shaken together well.

Note: Once refrigerated and reheated, it still tastes great but may look just a little “off.”