Jackson Koivun loses chunk of first PGA Tour win | Golf News
Jackson Koivun claimed his first-career PGA Tour victory by successful the 3M Open (Image: Getty Images)
Jackson Koivun will likely be required to give up a substantial portion of his prize money following his maiden PGA Tour victory.
On Sunday, Koivun captured the 3M Open championship after posting a bogey-free 66 in the ultimate spherical at TPC Twin Cities. The spectacular displaying introduced him to 25-under for the match, three pictures forward of World No. 1 Scottie Scheffler.
Prior to the 3M Open, Koivun – who turned skilled earlier this month – had earned just $93,000 throughout his rising PGA Tour profession. His earnings have now multiplied 17-fold, with the 21-year-old gathering $1.548 million in prize money for his first victory. It comes after LIV Golf shutdown fears grow as brutal cost-cutting measures continue.
Regrettably for Koivun, a significant slice of his winnings will not stay in his possession. Because his prize money is assessed as bizarre income, a substantial share will doubtless be taxed at the very best federal marginal price of 37 %.
Based on deductions and further income, the federal tax burden is projected to vary between $525,000 and $555,000.
Koivun claimed $1.548 million in prize money after rising victorious in the 3M Open (Image: Getty Images)
Professional athletes are also sometimes subject to the “jock tax,” which allows host states to tax income earned for companies rendered within their jurisdictions, including match earnings.
Since the 3M Open occurred in Blaine, Minnesota, the winnings could be subject to Minnesota income tax, which reaches a top marginal price of 9.85 % – producing an estimated tax legal responsibility of roughly $152,000. As a Florida resident, Koivun wouldn’t face personal income tax.
This would convey his estimated whole to roughly $692,000, leaving him with roughly $856,000 after federal and state income taxes. However, this determine doesn’t account for deductions, agent charges, caddie funds, charitable donations, retirement contributions, or other tax-planning measures.
Koivun was thrilled to secure his first skilled victory on the PGA Tour in only his third look, saying: “I’m just trying to soak it all in. Fully hasn’t set in yet, but I’m sure it’ll come any second here now.
“Even through school, it is such as you wanna be main a PGA Tour event. And that’s what you prepare for, you’re employed for. And once you are finally in it, you just gotta keep your head down and commit to every single golf shot. And thankfully, it labored out for me today.”
After an impressive three years at Auburn, Koivun opted to forgo his senior season and secured his PGA Tour membership through the university accelerated program, exceeding the 20-point threshold with a top-10 performance at the 2025 NCAA Championship.
“It’s gone by fast, it is loopy,” he reflected on his path to this moment. “It looks like yesterday we received the National Championship at Auburn. And it is loopy how fast time flies.
“I do know the PGA Tour is difficult and it is very aggressive. And thankfully enough, I used to be ready to get fairly a few sponsor exemptions last summer time to variety of get acquainted with the sensation of enjoying on the PGA Tour.
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