68 O.S. § 217, as amended, is adopted and made a part of this subchapter and interest and penalties at the rates and in the amounts as therein specified are levied and shall be applicable in cases of
delinquency in reporting and paying the tax levied by this subchapter. The failure or refusal of any taxpayer to make and transmit the report and remittances of tax in the time and manner required by this subchapter shall cause such tax to be delinquent. In addition, if such delinquency continues for a period of five days, the taxpayer shall forfeit his or her claim to any discount allowed under this subchapter.
(`85 Code, § 1-75)