PGA Tour star wins first event and is forced to give up over £500,000 | Golf | Sport
Jackson Koivun gestures (Image: Andrew Wevers, Getty Images)
Jackson Koivun will be compelled to surrender a considerable portion of his prize money following his breakthrough maiden victory on the PGA Tour. On Sunday, Koivun clinched the 3M Open title after carding a bogey-free 66 in the final round at TPC Twin Cities. The impressive display moved him to 25-under for the tournament, three shots ahead of World No.1 Scottie Scheffler.
Heading into the 3M Open, Koivun, who turned professional earlier this month, had accumulated just £69,734 throughout his fledgling PGA Tour career. His earnings have since multiplied 17-fold, with the 21-year-old pocketing £1.1million in prize money for his first-ever victory. Regrettably for Koivun, a substantial portion of his windfall will not remain in his bank account. As his prize money is classified as ordinary income, a significant share will almost certainly be taxed at the highest federal marginal rate of 37 per cent.
Subject to deductions and additional earnings, the federal tax liability is anticipated to fall somewhere between £393,000 and £416,000.
Professional sportspeople are also routinely subject to the “jock tax,” which permits host states to levy tax on income generated for services rendered within their boundaries, including tournament prize money.
With the 3M Open having been held in Blaine, Minnesota, the winnings would be liable for Minnesota state income tax, which carries a top marginal rate of 9.85 per cent, producing an estimated tax bill of approximately £113,000. As a Florida resident, Koivun would not be liable for personal income tax.
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This would subsequently bring his estimated total to around £518,000, leaving him with roughly £641,000 after federal and state income taxes.
Jackson Koivun holds up the 3M trophy (Image: Getty)
Nevertheless, this figure does not account for deductions, agent fees, caddie expenses, charitable donations, pension contributions, or additional tax-planning measures.
Koivun was nonetheless delighted to secure his maiden professional victory on the PGA Tour in only his third appearance, 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 college, it’s like you wanna be leading a PGA Tour event. And that’s what you train for, you work for. And once you’re finally in it, you just gotta keep your head down and commit to every single golf shot. And fortunately, it worked out for me today.”
After an accomplished three years at Auburn, Koivun bypassed his senior year and secured his PGA Tour membership via the university accelerated programme, exceeding the 20-point threshold with a top-10 finish at the 2025 NCAA Championship.
Jackson Koivun in action at the 3M Open (Image: Getty)
“It’s gone by quick, it’s crazy,” he said about his journey to this moment. “It feels like yesterday we won the National Championship at Auburn. And it’s crazy how fast time flies.
“I know the PGA Tour is hard and it’s very competitive. And fortunately enough, I was able to get quite a few sponsor exemptions last summer to kind of get acquainted with the feeling of playing on the PGA Tour.
“So these last three events have been definitely a little bit of a wake up call getting back into the swing of things on the PGA Tour. But I’m just excited with the way I played this week.”
