<prompt> Human: Hello, I have a question about a contact sections. The section is follow:Company will not be responsible for any taxes levied on the Contractor as a result of this contract. A form 1099 misc will be provided to the contractor in accordance with the IRS Laws. The contractor may be required to pay self-employment taxes as a result of payment in accordance with this contract. Now I assume that this means that the company is not going to take any taxes out and I need to set aside a percentage for taxes. is this correct? This will be a second income, I live in central Indiana.  <response>: the company is not going to take any taxes out and I need to set aside a percentage for taxes. is this correct? Yes. 