Jackson Koivun loses chunk of first PGA Tour win – Sports News
Jackson Koivun claimed his first-career PGA Tour victory by profitable the 3M Open (Image: Getty Images)
Jackson Koivun might 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 within the ultimate spherical at TPC Twin Cities. The spectacular exhibiting introduced him to 25-under for the event, three pictures forward of World No. 1 Scottie Scheffler.
Prior to the 3M Open, Koivun – who turned skilled earlier this month – had earned simply $93,000 all through 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 proceed.
Regrettably for Koivun, a good portion of his winnings will not stay in his possession. Because his prize money is assessed as peculiar income, a substantial share will seemingly be taxed on the highest federal marginal charge of 37 p.c.
Based on deductions and extra 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 within the 3M Open (Image: Getty Images)
Professional athletes are additionally usually subject to the “jock tax,” which allows host states to tax income earned for providers rendered within their jurisdictions, together with event earnings.
Since the 3M Open occurred in Blaine, Minnesota, the winnings can be subject to Minnesota income tax, which reaches a prime marginal charge of 9.85 p.c – 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 different tax-planning measures.
Koivun was thrilled to secure his first skilled victory on the PGA Tour in solely 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 by means of faculty, it is such as you wanna be main a PGA Tour occasion. And that is what you prepare for, you’re employed for. And when you’re lastly in it, you simply gotta keep your head down and commit to each single golf shot. And happily, it labored out for me right now.”
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 passed by fast, it is loopy,” he reflected on his path to this moment. “It appears like yesterday we received the National Championship at Auburn. And it is loopy how fast time flies.
“I do know the PGA Tour is tough and it’s totally aggressive. And happily enough, I used to be capable of get fairly a few sponsor exemptions final summer season to type of get acquainted with the sensation of enjoying on the PGA Tour.
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