Jackson Koivun secured his maiden PGA Tour victory at the 3M Open on Sunday, but a significant portion of his £1.1 million prize money will be lost to taxes.
Victory and Earnings
Koivun carded a bogey-free 66 in the final round at TPC Twin Cities to finish at 25-under, three shots ahead of world No.1 Scottie Scheffler. The 21-year-old turned professional earlier this month and had earned just £69,734 before this win.
His prize money is classified as ordinary income, subject to the highest federal marginal tax rate of 37%, resulting in an estimated federal tax liability between £393,000 and £416,000.
State Tax Impact
Since the 3M Open was held in Blaine, Minnesota, the winnings are also liable for Minnesota's state income tax, which has a top marginal rate of 9.85%, adding roughly £113,000. As a Florida resident, Koivun avoids personal income tax in his home state.
The combined estimated tax bill is around £518,000, leaving Koivun with approximately £641,000 before deductions for agent fees, caddie expenses, charitable donations, pension contributions, or other tax-planning measures.
Reaction and Background
Koivun expressed delight at his first professional win in only his third PGA Tour start: "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."
He bypassed his senior year at Auburn and earned PGA Tour membership via the university accelerated programme after exceeding the 20-point threshold with a top-10 finish at the 2025 NCAA Championship. Reflecting on his journey, he said, "It feels like yesterday we won the National Championship at Auburn."
