New Tax Withholdings Question in Pennsylvania

[Elise Bickel Tauber]

I recently started my own property management company, but prior to this I was working underneath a large franchise. When I opened my doors to my new company in the last week or two I came to find a new 1099-MISC tax withholding from the beginning of the year that I had never heard of. Apparently we as property managers are required to withhold 3.07% of owner's income for out of state owners and properly file that withholding with the federal government. Am I understanding that correctly? I know for 100% fact the large franchise I just left was not doing this and I was hoping for a little direction as my CPA isn't back for another week.

Please excuse my ignorance and thank you everyone for your help!