Place water in a high-sided, heavy-bottomed saucepan (preferably one that's light in color so you can see the color of the sugar better). Add sugar in a mound in the center. Drizzle corn syrup on top.

Cover and place over medium-high heat for 5 minutes until mixture starts to bubble. Remove cover and continue to simmer, swirling the pan occasionally to ensure even cooking, until the sugar turns light amber brown in color; at this point it should measure 350 to 360 degrees F on an instant read thermometer. Keep a very close eye on it once it starts to turn golden, as it can go from perfectly caramelized to burnt in an instant if you're not paying attention.

Add butter and whisk until completely melted and combined.

Remove from heat and add cream and salt. It will steam and sputter quite a bit, just keep whisking until the cream is completely incorporated and caramel is smooth. For a thicker caramel sauce, return to medium heat and let it come to a full boil (it should start boiling again pretty quickly) for 1 minute.

Remove from heat and let cool for 5 minutes, then whisk in liquor.

Pour into heatproof glass jars. Let cool, uncovered, until they are lukewarm to the touch, then cover with an airtight lid and refrigerate until ready to use, up to 2 weeks. Rewarm slightly before serving.