Yes, you must pay both federal and state estimates four times a year, 4/15, 6/15, 9/15 and 1/15.
The tax will be calculated on net income from self-employment and should be enough to cover the self-employment tax of 15.3% plus income tax according to your tax bracket.
For more information, see:
Can TurboTax calculate next year's federal estimated taxes?
Can TurboTax calculate the estimated payments for next year's state taxes?
