[RESOLVED] If checkbox = on help

Code:

---

Re-Issue? <input name="reissue" type="checkbox" value="ON">
<br>

<?
if($reissue = "on")
{
        if ($loan_amount <= 99999)
{
        $percent = ($loan_amount * .00330);

        $total = ($percent);
        }
if ($loan_amount >= 100000)
{
        $prep = ($loan_amount - 100000);

        $percent = ($prep * .00300);

        $tpercent = ($percent + 575);

        $total = ($tpercent);
        }
if ($loan_amount >= 1000000)
{
        $prep = ($loan_amount - 1100000);

        $percent = ($prep * .00200);

        $ptotal = ($percent + 5325);

        $total = ($ptotal);
        }
if ($loan_amount >= 10000000)
{
        $prep = ($loan_amount - 16100000);

        $percent = ($prep * .00150);

        $ptotal = ($percent + 38525);

        $total = ($ptotal);
        }
}
if($reissue = "off")
{
if ($loan_amount <= 99999)
{
        $percent = ($loan_amount * .00575);

        $total = ($percent);
        }
if ($loan_amount >= 100000)
{
        $prep = ($loan_amount - 100000);

        $percent = ($prep * .00500);

        $tpercent = ($percent + 575);

        $total = ($tpercent);
        }
if ($loan_amount >= 1000000)
{
        $prep = ($loan_amount - 1100000);

        $percent = ($prep * .00250);

        $ptotal = ($percent + 5325);

        $total = ($ptotal);
        }
if ($loan_amount >= 5000000)
{
        $prep = ($loan_amount - 6100000);

        $percent = ($prep * .00250);

        $ptotal = ($percent + 17450);

        $total = ($ptotal);
        }
if ($loan_amount >= 10000000)
{
        $prep = ($loan_amount - 16100000);

        $percent = ($prep * .00200);

        $ptotal = ($percent + 38525);

        $total = ($ptotal);
        }
}

---

Why isnt it working, its ignore the different percentages in the "on" section all together

if(isset($_POST['reissue'])) {
// it is selected
} else {
// it is not
}

thanks