How is it that the company pays no taxes, but instead claims a tax credit? I haven't seen this for any other company. Recall that EBIX was targeted by short sellers for paying a low tax rate, and is not being investigated by the Feds.
No. Look at the cash flow statements. In the past 2 years they bought back about $2 BILLION in stock.. Some of that was at a loss versus the issue price. They get tax benefits from that activity. You don't see it on the internet. You have to read their IRS filings.