A five year probation sentence against Master P’s record management company, Bout It Inc., was put to an end this week by a U.S. District Judge.

According to 2theadvocate.com, Bout It Inc., which Master P used to run No Limit Records, was sentenced to five years of probation and fined $100,000 by U.S. District Judge James Brady in 2004 after the company plead guilty to failing to pay taxes on $2.3 million it earned in 1996.

The company’s probation was put to an end this week by Brady, after having already cancelled the $100,000 fine which had been considered uncollectible by Federal probation officers, because the company is no longer in business after filing for bankruptcy.

“There’s no point in keeping it on the books,” said U.S. Attorney David Dugas.  “And there’s no point in supervising a company that isn’t in business anymore.  So the judge released them.”

Dugas did reveal that Master P had met other terms of the plea agreement with Bout It, including filing overdue tax returns on his own personal income.

Master P could not be reached for comment.

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Master P’s brother, Corey ‘C-Murder’ Miller, will be re-tried on second degree murder charges on February 2008.  The New Orleans rapper is accused of shooting a 16-year-old fan at a Harvey nightclub in 2002.