UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number 811-04254

Legg Mason Partners Income Trust

(Exact name of registrant as specified in charter)

620 Eighth Avenue, 49^th Floor, New York, NY 10018

(Address of principal executive offices) (Zip code)

Robert I. Frenkel, Esq.

Legg Mason & Co., LLC

100 First Stamford Place

Stamford, CT 06902

(Name and address of agent for service)

Registrant’s telephone number, including area code: 1-877-721-1926

Date of fiscal year end: November 30

Date of reporting period: November 30, 2014

ITEM 1. REPORT TO STOCKHOLDERS.

The Annual Report to Stockholders is filed herewith.

Annual Report November 30, 2014

WESTERN ASSET

INTERMEDIATE MATURITY

NEW YORK MUNICIPALS

FUND

INVESTMENT PRODUCTS: NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE

What’s inside
Letter from the president	II
Investment commentary	III
Fund overview	1
Fund at a glance	6
Fund expenses	7
Fund performance	9
Spread duration	11
Effective duration	12
Schedule of investments	13
Statement of assets and liabilities	20
Statement of operations	21
Statements of changes in net assets	22
Financial highlights	23
Notes to financial statements	26
Report of independent registered public accounting firm	35
Board approval of management and subadvisory agreements	36
Additional information	40
Important tax information	47

Fund objective

The Fund seeks to provide New York investors with as high a level of current income exempt from federal income tax and New York State and New York City personal income taxes* as is consistent with the preservation of principal.

* Certain investors may be subject to the federal alternative minimum tax (“AMT”), and state and local taxes may apply. Capital gains, if any, are fully taxable. Please consult your personal tax or legal adviser.

Letter from the president

Dear Shareholder,

We are pleased to provide the annual report of Western Asset Intermediate Maturity New York Municipals Fund for the twelve-month reporting period ended November 30, 2014. Please read on for a detailed look at prevailing economic and market conditions during the Fund’s reporting period and to learn how those conditions have affected Fund performance.

As always, we remain committed to providing you with excellent service and a full spectrum of investment choices. We also remain committed to supplementing the support you receive from your financial advisor. One way we accomplish this is through our website, www.leggmason.com/individualinvestors. Here you can gain immediate access to market and investment information, including:

Ÿ Fund prices and performance,

Ÿ Market insights and commentaries from our portfolio managers, and

Ÿ A host of educational resources.

We look forward to helping you meet your financial goals.

Sincerely,

Kenneth D. Fuller

President and Chief Executive Officer

December 26, 2014

II Western Asset Intermediate Maturity New York Municipals Fund

Investment commentary

Economic review

Despite weakness in early 2014, the U.S. economy expanded at a strong pace during the twelve months ended November 30, 2014 (the “reporting period”). The U.S. Department of Commerce reported that in the fourth quarter of 2013, U.S. gross domestic product (“GDP”)ⁱ growth was 3.5%. Severe winter weather then played a key role in a sharp reversal in the economy, a 2.1% contraction during the first quarter of 2014; this was the first negative GDP report in three years. Negative contributions were widespread: private inventory investment, exports, state and local government spending and nonresidential and residential fixed investment. Thankfully, this setback was very brief, as second quarter GDP growth was 4.6%. The rebound in GDP growth was driven by several factors, including an acceleration in personal consumption expenditures (“PCE”), increased private inventory investment and exports, as well as an upturn in state and local government spending. After the reporting period ended, the Department of Commerce reported that third quarter GDP growth was 5.0%, driven by contributions from PCE, exports, nonresidential fixed investment and government spending and the strongest reading for GDP growth since the third quarter of 2003.

The U.S. manufacturing sector was another tailwind for the economy. Based on figures for the Institute for Supply Management’s Purchasing Managers’ Index (“PMI”)ⁱⁱ, U.S. manufacturing expanded during all twelve months of the reporting period (a reading below 50 indicates a contraction, whereas a reading above 50 indicates an expansion). After a reading of 56.5 in December 2013, the PMI fell to 51.3 in January 2014, but generally rose over the next several months, reaching a high of 59.0 in August, its best reading since March 2011. While PMI dipped to 56.6 in September, it rose back to 59.0 in October and was 58.7 in November.

The improving U.S. job market was one of the factors supporting the overall economy during the reporting period. When the period began, unemployment, as reported by the U.S. Department of Labor, was 6.7%. Unemployment generally declined throughout the reporting period and reached a low of 5.8% in October and November 2014, the lowest level since July 2008.

The Federal Reserve Board (“Fed”)ⁱⁱⁱ took a number of actions as it sought to meet its dual mandate of fostering maximum employment and price stability. As it has since December 2008, the Fed kept the federal funds rate^iv at a historically low range between zero and 0.25%. The Fed also ended its asset purchase program that was announced in December 2012. At that time, the Fed said it would continue purchasing $40 billion per month of agency mortgage-backed securities (“MBS”), as well as $45 billion per month of longer-term Treasuries. Following the meeting that concluded on December 18, 2013, the Fed announced that it would begin reducing its monthly asset purchases, saying “Beginning in January 2014, the Committee will add to its holdings of agency MBS at a pace of $35 billion per month rather than $40 billion per month, and will add to its holdings of longer-term Treasury securities at a pace of $40 billion per month rather than $45 billion per month.” At each of the Fed’s next six meetings (January, March, April, June, July and September 2014), it announced further $10 billion tapering of its asset purchases.

Western Asset Intermediate Maturity New York Municipals Fund III

Investment commentary (cont’d)

At its meeting that ended on October 29, 2014, the Fed announced that its asset purchase program had concluded. Finally, on December 17, 2014, after the reporting period ended, the Fed said that “Based on its current assessment, the Committee judges that it can be patient... to maintain the 0 to 1/4 percent target range for the federal funds rate for a considerable time...”

As always, thank you for your confidence in our stewardship of your assets.

Sincerely,

Kenneth D. Fuller

President and Chief Executive Officer

December 26, 2014

All investments are subject to risk including the possible loss of principal. Past performance is no guarantee of future results.

ⁱ  Gross domestic product (“GDP”) is the market value of all final goods and services produced within a country in a given period of time.

ⁱⁱ  The Institute for Supply Management’s PMI is based on a survey of purchasing executives who buy the raw materials for manufacturing at more than 350 companies. It offers an early reading on the health of the U.S. manufacturing sector.

ⁱⁱⁱ  The Federal Reserve Board (“Fed”) is responsible for the formulation of policies designed to promote economic growth, full employment, stable prices and a sustainable pattern of international trade and payments.

^iv  The federal funds rate is the rate charged by one depository institution on an overnight sale of immediately available funds (balances at the Federal Reserve) to another depository institution; the rate may vary from depository institution to depository institution and from day to day.

IV Western Asset Intermediate Maturity New York Municipals Fund

Fund overview

Q. What is the Fund’s investment strategy?

A. The Fund seeks to provide New York investors with as high a level of current income exempt from federal income tax and New York State and New York City personal income taxes as is consistent with the preservation of principal. Under normal circumstances, the Fund invests at least 80% of its assets in investment grade “New York municipal securities” or other investments with similar economic characteristics. New York municipal securities are securities the interest on which is exempt from regular federal income tax and New York State and New York City personal income taxes. Interest on New York municipal securities may be subject to the federal alternative minimum tax. New York municipal securities include debt obligations issued by the state of New York and its political subdivisions, agencies and public authorities, certain other governmental issuers (such as Puerto Rico, the U.S. Virgin Islands and Guam) and other qualifying issuers. These securities include participation or other interests in municipal securities issued or backed by banks, insurance companies and other financial institutions.

The Fund focuses on investment grade bonds (that is, securities rated in the Baa/BBB categories or above or, if unrated, deemed to be of comparable credit quality) but may invest up to 20% of its assets in below investment grade bonds (commonly known as “junk bonds”). The Fund may invest up to 20% of its assets in unrated securities that we determine to be equivalent to investment grade. Although the Fund may invest in securities of any maturity, the Fund normally maintains an average effective portfolio maturity of between three and ten years. Instead of, and/or in addition to, investing directly in particular securities, the Fund may gain exposure to a security, an issuer, or a basket of securities, or a market, by investing through the use of instruments such as derivatives. We select securities primarily by identifying undervalued sectors and individual securities, while also selecting securities we believe will benefit from changes in market conditions.

At Western Asset Management Company (“Western Asset”), the Fund’s subadviser, we utilize a fixed-income team approach, with decisions derived from interaction among various investment management sector specialists. The sector teams are comprised of Western Asset’s senior portfolio management personnel, research analysts and an in-house economist. Under this team approach, management of client fixed-income portfolios will reflect a consensus of interdisciplinary views within the Western Asset organization.

Q. What were the overall market conditions during the Fund’s reporting period?

A. The spread sectors (non-Treasuries) generated positive results and largely outperformed equal-durationⁱ Treasuries over the twelve months ended November 30, 2014. Risk aversion was prevalent at times given mixed economic data, questions surrounding the outlook for global growth, changing monetary policy by the Federal Reserve Board (“Fed”)ⁱⁱ, and numerous geopolitical issues. However, these factors were largely overshadowed by solid demand from investors looking to generate incremental yield in the low interest rate environment.

Western Asset Intermediate Maturity New York Municipals Fund 2014 Annual Report 1

Fund overview (cont’d)

Short-term Treasury yields moved higher, whereas longer-term Treasury yields declined during the twelve months ended November 30, 2014. Two-year Treasury yields rose from 0.28% at the beginning of the period to 0.47% at the end of the period. Their peak of 0.59% occurred in mid-September 2014. Ten-year Treasury yields were 2.75% at the beginning of the period and reached a low of 2.15% on October 15, 2014. Their peak of 3.04% occurred on December 31, 2013 and they ended the reporting period at 2.18%.

The municipal bond market significantly outperformed its taxable bond counterpart during the twelve month reporting period. Over that time, the Barclays Municipal Bond Indexⁱⁱⁱ and the Barclays U.S. Aggregate Index^iv returned 8.23% and 5.26%, respectively. The municipal bond market generated negative results during the first month covered by this report. In addition to rising interest rates, investor sentiment weakened given questions regarding the future tax favored status for municipal bonds, as well as credit issues in Puerto Rico and the fallout from the city of Detroit’s bankruptcy filing. However, the municipal bond market then rallied sharply and posted positive returns over the last eleven months of the reporting period. This turnaround was triggered by a number of factors, including improving municipal fundamentals, attractive valuations and generally robust demand.

The New York intermediate municipal bond market underperformed the overall tax-exempt market, as the Barclays New York Intermediate Municipal Bond Index (the Index”)^v returned 5.41% during the twelve-month reporting period. New York weathered the recession better than the nation as a whole, posting strong job gains and surpassing its pre-recession employment peak. Its unemployment rate has fallen from 7.1% in November 2013 to 5.9% in November 2014. All three rating agencies upgraded New York’s general obligation bond ratings in June and July 2014 and have all have assigned stable outlooks to their ratings. In addition to its strong and diverse economy, stable reserves and budgetary balance, the key driver for the upgrades is improved fiscal management, including consistent, timely budget passage. While overall tax collections continue to grow and the financial sector remains significant to the state’s economy, contributions from this sector relative to others have been on the decline. Although, the state’s debt position is growing, it is considered moderate, comprising 6% of personal income. Personal income taxes are an important source of revenue for the state, comprising 61% of total tax receipts. Since resident wealth levels are high, personal income tax receipts tend to rise during strong and improving markets. Finally, we believe the state’s pension system is well-funded compared to other states.

Q. How did we respond to these changing market conditions?

A. There were several changes to the Fund during the reporting period. We reduced the Fund’s overall risk exposure by selling certain strong performers and maintained a cash position in the event of a market selloff. Elsewhere, we opportunistically trimmed the Fund’s exposure to Puerto Rico on strength (interest from bonds issued in certain territories, such as Puerto Rico, are tax-exempt in all states). The Fund employed the use of short U.S. Treasury futures during the reporting period to manage duration.

2 Western Asset Intermediate Maturity New York Municipals Fund 2014 Annual Report

This strategy detracted from the Fund’s performance.

Performance review

For the twelve months ended November 30, 2014, Class A shares of Western Asset Intermediate Maturity New York Municipals Fund, excluding sales charges, returned 6.18%. The Fund’s unmanaged benchmark, the Barclays New York Intermediate Municipal Bond Index, returned 5.41% for the same period. The Lipper New York Intermediate Municipal Debt Funds Category Average¹ returned 4.77% over the same time frame.

Certain investors may be subject to the federal alternative minimum tax, and state and local taxes may apply. Capital gains, if any, are fully taxable. Please consult your personal tax or legal adviser.

Performance Snapshot as of November 30, 2014 (unaudited)
(excluding sales charges)	6 months			12 months
Western Asset Intermediate Maturity New York Municipals Fund:
Class A		1.84	%		6.18	%
Class C		1.42	%		5.55	%
Class I		1.81	%		6.35	%
Barclays New York Intermediate Municipal Bond Index		1.83	%		5.41	%
Lipper New York Intermediate Municipal Debt Funds Category Average1		1.31	%		4.77	%

The performance shown represents past performance. Past performance is no guarantee of future results and current performance may be higher or lower than the performance shown above. Principal value, investment returns and yields will fluctuate and investors’ shares, when redeemed, may be worth more or less than their original cost. To obtain performance data current to the most recent month-end, please visit our website at www.leggmason.com/individualinvestors.

All share class returns assume the reinvestment of all distributions at net asset value and the deduction of all Fund expenses. Returns have not been adjusted to include sales charges that may apply or the deduction of taxes that a shareholder would pay on Fund distributions. If sales charges were reflected, the performance quoted would be lower. Performance figures for periods shorter than one year represent cumulative figures and are not annualized.

Fund performance figures reflect fee waivers and/or expense reimbursements, without which the performance would have been lower.

The 30-Day SEC Yields for the period ended November 30, 2014 for Class A, Class C and Class I shares were 2.13%, 1.58% and 2.33%, respectively. Absent fee waivers and/or expense reimbursements, the 30-Day SEC Yields for Class A, Class C and Class I shares would have been 2.12%, 1.57%, and 2.17%, respectively. The 30-Day SEC Yield is subject to change and is based on the yield to maturity of the Fund’s investments over a 30-day period and not on the dividends paid by the Fund, which may differ.

Total Annual Operating Expenses (unaudited)

As of the Fund’s current prospectus dated March 31, 2014, the gross total annual operating expense ratios for Class A, Class C and Class I shares were 0.76%, 1.36% and 0.68%, respectively.

¹  Lipper, Inc., a wholly-owned subsidiary of Reuters, provides independent insight on global collective investments. Returns are based on the period ended November 30, 2014, including the reinvestment of all distributions, including returns of capital, if any, calculated among the 34 funds for the six-month period and among the 33 funds for the twelve-month period in the Fund’s Lipper category, and excluding sales charges.

Western Asset Intermediate Maturity New York Municipals Fund 2014 Annual Report 3

Fund overview (cont’d)

Actual expenses may be higher. For example, expenses may be higher than those shown if average net assets decrease. Net assets are more likely to decrease and Fund expense ratios are more likely to increase when markets are volatile.

As a result of expense limitation arrangements, the ratio of expenses, other than interest, brokerage, taxes, extraordinary expenses and acquired fund fees and expenses, to average net assets is not expected to exceed 0.75% for Class A shares, 1.35% for Class C shares and 0.60% for Class I shares. These expense limitation arrangements cannot be terminated prior to December 31, 2016 without the Board of Trustees’ consent.

The manager is permitted to recapture amounts waived and/or reimbursed to a class during the same fiscal year if the class’ total annual operating expenses have fallen to a level below the expense limitation (“expense cap”) in effect at the time the fees were earned or the expenses incurred. In no case will the manager recapture any amount that would result, on any particular business day of the Fund, in the class’ total annual operating expenses exceeding the expense cap or any other lower limit then in effect.

Q. What were the leading contributors to performance?

A. The largest contributor to the Fund’s relative performance during the reporting period was its duration and yield curve^vi positioning. Having a duration that was longer than that of the benchmark was rewarded as longer-term rates declined over the twelve month period ended November 30, 2014. From a yield curve perspective, overweights to the ten and twenty year portions of the municipal curve, along with an underweight to the five year and shorter portion of the municipal curve, were beneficial for performance.

From a sector perspective, overweights to Industrial Revenue and Health Care were additive for results. An underweight to Local General Obligation bonds also enhanced the Fund’s performance.

Elsewhere, the Fund’s quality biases contributed to results. In particular, having an overweight to municipal securities rated A and below, along with underweights to securities rated AA and AAA, benefited results as lower rated municipal bonds outperformed their higher rated counterparts over the twelve month period.

Q. What were the leading detractors from performance?

A. The Fund outperformed its benchmark during the reporting period. In addition to the Fund’s Treasury futures position, its underweight to the Transportation sector slightly detracted from performance.

Thank you for your investment in Western Asset Intermediate Maturity New York Municipals Fund. As always, we appreciate that you have chosen us to manage your assets and we remain focused on achieving the Fund’s investment goals.

Sincerely,

Western Asset Management Company

December 16, 2014

RISKS: The Fund’s investments are subject to interest rate and credit risks. As interest rates rise, bond prices fall, reducing the value of the Fund’s share price. Lower-rated, higher yielding bonds known as “junk bonds” are subject to greater credit risk, including the risk of default, than higher-rated obligations. As a non-diversified fund, it can invest a larger percentage of its assets in fewer issues than a diversified fund. This may magnify the Fund’s losses from events affecting a particular

4 Western Asset Intermediate Maturity New York Municipals Fund 2014 Annual Report

issuer. Municipal securities purchased by the Fund may be adversely affected by changes in the financial condition of municipal issuers and insurers, regulatory and political developments, uncertainties and public perceptions, and other factors. The Fund may use derivatives, such as options and futures, which can be illiquid, may disproportionately increase losses, and have a potentially large impact on Fund performance. Please see the Fund’s prospectus for a more complete discussion of these and other risks, and the Fund’s investment strategies.

The mention of sector breakdowns is for informational purposes only and should not be construed as a recommendation to purchase or sell any securities. The information provided regarding such sectors is not a sufficient basis upon which to make an investment decision. Investors seeking financial advice regarding the appropriateness of investing in any securities or investment strategies discussed should consult their financial professional. Portfolio holdings are subject to change at any time and may not be representative of the portfolio manager’s current or future investments. The Fund’s portfolio composition is subject to change at any time.

All investments are subject to risk including the possible loss of principal. Past performance is no guarantee of future results. All index performance reflects no deduction for fees, expenses or taxes. Please note that an investor cannot invest directly in an index.

The information provided is not intended to be a forecast of future events, a guarantee of future results or investment advice. Views expressed may differ from those of the firm as a whole.

ⁱ  Duration is the measure of the price sensitivity of a fixed-income security to an interest rate change of 100 basis points. Calculation is based on the weighted average of the present values for all cash flows.

ⁱⁱ  The Federal Reserve Board (“Fed”) is responsible for the formulation of policies designed to promote economic growth, full employment, stable prices, and a sustainable pattern of international trade and payments.

ⁱⁱⁱ  The Barclays Municipal Bond Index is a market value weighted index of investment grade municipal bonds with maturities of one year or more.

^iv  The Barclays U.S. Aggregate Index is a broad-based bond index comprised of government, corporate, mortgage- and asset-backed issues, rated investment grade or higher, and having at least one year to maturity.

^v  The Barclays New York Intermediate Municipal Bond Index is a market value weighted index of New York investment grade (Baa3/BBB- or higher) fixed-rate municipal bonds with maturities of five to ten years.

^vi  The yield curve is the graphical depiction of the relationship between the yield on bonds of the same credit quality but different maturities.

Western Asset Intermediate Maturity New York Municipals Fund 2014 Annual Report 5

Fund at a glance^†(unaudited)

Investment breakdown (%) as a percent of total investments

† The bar graph above represents the composition of the Fund’s investments as of November 30, 2014 and November 30, 2013 and does not include derivatives such as futures contracts. The Fund is actively managed. As a result, the composition of the Fund’s investments is subject to change at any time.

6 Western Asset Intermediate Maturity New York Municipals Fund 2014 Annual Report

Fund expenses (unaudited)

Example

As a shareholder of the Fund, you may incur two types of costs: (1) transaction costs, including front-end and back-end sales charges (loads) on purchase payments; and (2) ongoing costs, including management fees; service and/or distribution (12b-1) fees; and other Fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds.

This example is based on an investment of $1,000 invested on June 1, 2014 and held for the six months ended November 30, 2014.

Actual expenses

The table below titled “Based on Actual Total Return” provides information about actual account values and actual expenses. You may use the information provided in this table, together with the amount you invested, to estimate the expenses that you paid over the period. To estimate the expenses you paid on your account, divide your ending account value by $1,000 (for example, an $8,600 ending account value divided by $1,000 = 8.6), then multiply the result by the number under the heading entitled “Expenses Paid During the Period”.

Hypothetical example for comparison purposes

The table below titled “Based on Hypothetical Total Return” provides information about hypothetical account values and hypothetical expenses based on the actual expense ratio and an assumed rate of return of 5.00% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use the information provided in this table to compare the ongoing costs of investing in the Fund and other funds. To do so, compare the 5.00% hypothetical example relating to the Fund with the 5.00% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the table below are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as front-end or back-end sales charges (loads). Therefore, the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transaction costs were included, your costs would have been higher.

Based on actual total return1													Based on hypothetical total return1
	Actual Total Return Without Sales Charge2			Beginning Account Value		Ending Account Value		Annualized Expense Ratio			Expenses Paid During the Period3			Hypothetical Annualized Total Return			Beginning Account Value		Ending Account Value		Annualized Expense Ratio			Expenses Paid During the Period3
Class A		1.84	%	$	1,000.00	$	1,018.40		0.75	%	$	3.79	Class A		5.00	%	$	1,000.00	$	1,021.31		0.75	%	$	3.80
Class C		1.42			1,000.00		1,014.20		1.35			6.82	Class C		5.00			1,000.00		1,018.30		1.35			6.83
Class I		1.81			1,000.00		1,018.10		0.60			3.04	Class I		5.00			1,000.00		1,022.06		0.60			3.04

Western Asset Intermediate Maturity New York Municipals Fund 2014 Annual Report 7

Fund expenses (unaudited) (cont’d)

¹  For the six months ended November 30, 2014.

²  Assumes the reinvestment of all distributions, including returns of capital, if any, at net asset value and does not reflect the deduction of the applicable sales charge with respect to Class A shares. Total return is not annualized, as it may not be representative of the total return for the year. Performance figures may reflect compensating balance arrangements, fee waivers and/or expense reimbursements. In the absence of compensating balance arrangements, fee waivers and/or expense reimbursements, the total return would have been lower. Past performance is no guarantee of future results.

³  Expenses (net of compensating balance arrangements, fee waivers and/or expense reimbursements) are equal to each class’ respective annualized expense ratio multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal half-year (183), then divided by 365.

8 Western Asset Intermediate Maturity New York Municipals Fund 2014 Annual Report

Fund performance (unaudited)

Average annual total returns
Without sales charges1	Class A			Class C			Class I
Twelve Months Ended 11/30/14		6.18	%		5.55	%		6.35	%
Five Years Ended 11/30/14		3.78			3.16			3.93
Ten Years Ended 11/30/14		3.74			3.09			N/A
Inception* through 11/30/14		—			—			4.02
With sales charges2	Class A			Class C			Class I
Twelve Months Ended 11/30/14		3.82	%		5.55	%		6.35	%
Five Years Ended 11/30/14		3.32			3.16			3.93
Ten Years Ended 11/30/14		3.51			3.09			N/A
Inception* through 11/30/14		—			—			4.02

Cumulative total returns
Without sales charges1
Class A (11/30/04 through 11/30/14)	44.38	%
Class C (11/30/04 through 11/30/14)	35.62
Class I (Inception date of 4/1/08 through 11/30/14)	30.07

All figures represent past performance and are not a guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. The returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. Performance figures may reflect compensating balance arrangements, fee waivers and/or expense reimbursements. In the absence of compensating balance arrangements, fee waivers and/or expense reimbursements, the total return would have been lower.

¹  Assumes the reinvestment of all distributions, including returns of capital, if any, at net asset value and does not reflect the deduction of the applicable sales charge with respect to Class A shares.

²  Assumes the reinvestment of all distributions, including returns of capital, if any, at net asset value. In addition, Class A shares reflect the deduction of the maximum initial sales charge of 2.25%.

* Inception dates for Class A, C and I shares are December 31, 1991, July 22, 2002 and April 1, 2008, respectively.

Western Asset Intermediate Maturity New York Municipals Fund 2014 Annual Report 9

Fund performance (unaudited) (cont’d)

Historical performance

Value of $10,000 invested in

Class A Shares of Western Asset Intermediate Maturity New York Municipals Fund vs. Barclays New York Intermediate Municipal Bond Index and Lipper New York Intermediate Municipal Debt Funds Category Average† — November 2004 - November 2014

All figures represent past performance and are not a guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. The returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. Performance figures may reflect compensating balance arrangements, fee waivers and/or expense reimbursements. In the absence of compensating balance arrangements, fee waivers and/or expense reimbursements, the total return would have been lower.

† Hypothetical illustration of $10,000 invested in Class A shares of Western Asset Intermediate Maturity New York Municipals Fund on November 30, 2004, assuming the deduction of the maximum initial sales charge of 2.25% at the time of investment for Class A shares and the reinvestment of all distributions, including returns of capital, if any, at net asset value through November 30, 2014. The hypothetical illustration also assumes a $10,000 investment, in the Barclays New York Intermediate Municipal Bond Index and the Lipper New York Intermediate Municipal Debt Funds Category Average. The Barclays New York Intermediate Municipal Bond Index is a market value weighted index of New York investment grade (Baa3/BBB- or higher) fixed-rate municipal bonds with maturities of five to ten years. The Index is unmanaged and is not subject to the same management and trading expenses of a mutual fund. Please note that an investor cannot invest directly in an index. The Lipper New York Intermediate Municipal Debt Funds Category Average is comprised of the Fund’s peer group of mutual funds. The performance of the Fund’s other classes may be greater or less than the Class A shares’ performance indicated on this chart, depending on whether greater or lesser sales charges and fees were incurred by shareholders investing in the other classes.

10 Western Asset Intermediate Maturity New York Municipals Fund 2014 Annual Report

Spread duration (unaudited)

Economic exposure — November 30, 2014

Spread duration measures the sensitivity to changes in spreads. The spread over Treasuries is the annual risk premium demanded by investors to hold non-Treasury securities. Spread duration is quantified as the % change in price resulting from a 100 basis points change in spreads. For a security with positive spread duration, an increase in spreads would result in a price decline and a decline in spreads would result in a price increase. This chart highlights the market sector exposure of the Fund’s sectors relative to the selected benchmark sectors as of the end of the reporting period.

Benchmark	— Barclays New York Intermediate Municipal Bond Index
WA Int. Mat. NY	— Western Asset Intermediate Maturity New York Municipals Fund

Western Asset Intermediate Maturity New York Municipals Fund 2014 Annual Report 11

Effective duration (unaudited)

Interest rate exposure — November 30, 2014

Effective duration measures the sensitivity to changes in relevant interest rates. Effective duration is quantified as the % change in price resulting from a 100 basis points change in interest rates. For a security with positive effective duration, an increase in interest rates would result in a price decline and a decline in interest rates would result in a price increase. This chart highlights the interest rate exposure of the Fund’s sectors relative to the selected benchmark sectors as of the end of the reporting period.

Benchmark	— Barclays New York Intermediate Municipal Bond Index
WA Int. Mat. NY	— Western Asset Intermediate Maturity New York Municipals Fund

12 Western Asset Intermediate Maturity New York Municipals Fund 2014 Annual Report

Schedule of investments

November 30, 2014

Western Asset Intermediate Maturity New York Municipals Fund

Security	Rate			Maturity Date		Face Amount		Value
Municipal Bonds — 92.0%
Education — 7.8%
Madison County, NY, Capital Resource Corp. Revenue, Colgate University Project		5.000	%		7/1/25	$	565,000	$	671,034
New York State Dormitory Authority Revenue:
Fordham University		5.000	%		7/1/23		1,000,000		1,122,950
Non-State Supported Debt, Manhattan Marymount		5.000	%		7/1/24		5,285,000		5,675,297
Non-State Supported Debt, New School University		5.250	%		7/1/30		9,000,000		10,185,750
Suffolk County, NY, Industrial Development Agency, Civic Facilities Revenue, New York Institute of Technology Project		5.000	%		3/1/26		2,000,000		2,018,060
Total Education									19,673,091
Health Care — 16.9%
Build NYC Resource Corp., NY, Revenue:
New York Methodist Hospital Project		5.000	%		7/1/26		600,000		697,614
New York Methodist Hospital Project		5.000	%		7/1/28		1,000,000		1,146,560
New York Methodist Hospital Project		5.000	%		7/1/29		400,000		457,560
Nassau County, NY, Local Economic Assistance Corp. Revenue:
South Nassau Communities Hospital		5.000	%		7/1/27		5,690,000		6,317,607
Winthrop University Hospital Assistance Project		5.000	%		7/1/27		2,000,000		2,254,840
New York State Dormitory Authority Revenue:
Municipal Health Facility		5.000	%		1/15/25		5,000,000		5,547,000
Non-State Supported Debt, Mount Sinai Hospital		5.000	%		7/1/23		3,000,000		3,464,160
Non-State Supported Debt, North Shore Long Island Jewish Health System		5.000	%		5/1/21		3,000,000		3,395,760
Non-State Supported Debt, North Shore Long Island Jewish Health System		5.000	%		5/1/22		2,305,000		2,590,336
Non-State Supported Debt, North Shore Long Island Jewish Health System		5.000	%		5/1/23		2,150,000		2,400,754
Non-State Supported Debt, North Shore-Long Island Jewish Health Care Inc.		5.000	%		5/1/26		3,000,000		3,379,170
Non-State Supported Debt, NYU Hospitals Center		5.250	%		7/1/24		4,000,000		4,603,040
Schenectady County, NY, Capital Resource Corp. Revenue, FHA 242, Ellis Hospital		1.750	%		2/15/18		560,000		559,300
Suffolk County, NY, Economic Development Corp. Revenue, Catholic Health Services		5.000	%		7/1/22		5,000,000		5,743,950
Total Health Care									42,557,651
Housing — 2.9%
New York City, NY, HDC Revenue		5.000	%		7/1/22		4,000,000		4,768,520
New York City, NY, HDC, MFH Revenue		4.750	%		11/1/29		2,500,000		2,614,150
Total Housing									7,382,670

See Notes to Financial Statements.

Western Asset Intermediate Maturity New York Municipals Fund 2014 Annual Report 13

Schedule of investments (cont’d)

November 30, 2014

Western Asset Intermediate Maturity New York Municipals Fund

Security	Rate			Maturity Date		Face Amount		Value
Industrial Revenue — 6.6%
Essex County, NY, IDA, PCR, International Paper Co. Project		5.700	%		7/1/16	$	750,000	$	787,958	(a)
New York State Energy Research & Development Authority Revenue, Niagara Mohawk Power Corp.		0.393	%		7/1/29		1,000,000		917,550	(b)(h)
New York State Energy Research & Development Authority, PCR:
Rochester Gas & Electric Corp., NATL		4.750	%		7/1/16		2,250,000		2,391,997	(b)(c)
Rochester Gas & Electric Corp., NATL		5.000	%		8/1/16		6,450,000		6,888,277	(b)(c)
New York State Liberty Development Corp., Liberty Revenue, 3 World Trade Center Project		5.150	%		11/15/34		840,000		867,048	(d)
Port Authority of New York & New Jersey, Special Obligation Revenue, JFK International Air Terminal LLC		5.000	%		12/1/20		4,000,000		4,601,520
Total Industrial Revenue									16,454,350
Leasing — 2.2%
Capital District Youth Center, Lease Revenue, LOC-KeyBank N.A.		6.000	%		2/1/17		180,000		180,070
New York State Dormitory Authority Revenue:
State University Dormitory Facilities		5.000	%		7/1/23		1,685,000		1,914,278
State University Dormitory Facilities		5.000	%		7/1/24		3,050,000		3,456,962
Total Leasing									5,551,310
Local General Obligation — 8.2%
Monroe County, NY, GO, Public Improvement		6.000	%		3/1/18		1,000,000		1,140,250
New York, NY, GO		5.000	%		8/1/21		7,030,000		8,377,651	(e)
New York, NY, GO		5.000	%		5/15/22		4,000,000		4,619,120
Nyack, NY, GO, Union Free School District, FGIC		5.250	%		12/15/15		630,000		662,892
Rockland County, NY, Solid Waste Management Authority		5.750	%		12/15/23		5,000,000		5,854,300
Total Local General Obligation									20,654,213
Other — 1.4%
Brooklyn Arena, NY, Local Development Corp., Barclays Center Project		5.750	%		7/15/18		1,400,000		1,554,826
Municipal Assistance Corp. for the City of Troy, NY, Capital Appreciation, NATL		0.000	%		1/15/19		1,990,000		1,859,834
Total Other									3,414,660
Power — 0.6%
Utility Debt Securitization Authority, NY, Revenue, Restructuring		5.000	%		12/15/27		1,250,000		1,504,638
Special Tax Obligation — 27.2%
Brooklyn Arena, NY, Local Development Corp., Barclays Center Project		5.750	%		7/15/20		4,355,000		4,923,415
Build NYC Resource Corp., NY, Revenue:
YMCA of Greater New York Project		5.000	%		8/1/18		1,345,000		1,509,507
YMCA of Greater New York Project		5.000	%		8/1/19		1,450,000		1,655,132

See Notes to Financial Statements.

14 Western Asset Intermediate Maturity New York Municipals Fund 2014 Annual Report

Western Asset Intermediate Maturity New York Municipals Fund

Security	Rate			Maturity Date		Face Amount		Value
Special Tax Obligation — continued
New York City, NY, TFA Revenue, Future Tax Secured		5.000	%		5/1/24	$	8,000,000	$	9,220,320
New York City, NY, Trust for Cultural Resources Revenue, Lincoln Center for the Performing Arts Inc.		5.750	%		12/1/18		5,000,000		5,889,000
New York State Dormitory Authority, State Personal Income Tax Revenue		5.000	%		3/15/19		1,670,000		1,888,686
New York State Dormitory Authority, State Personal Income Tax Revenue		5.250	%		2/15/20		7,000,000		8,170,190
New York State Dormitory Authority, State Personal Income Tax Revenue		5.000	%		3/15/23		2,500,000		2,807,500
New York State Dormitory Authority, State Personal Income Tax Revenue, General Purpose		5.000	%		2/15/25		2,500,000		3,022,150
New York State Thruway Authority Personal Income Tax Revenue:
Transportation		5.000	%		3/15/23		500,000		607,580
Transportation		5.000	%		3/15/24		1,705,000		2,060,339
Transportation		5.000	%		3/15/25		1,000,000		1,194,220
New York State Urban Development Corp. Revenue, Refunding Service Contract		5.250	%		1/1/25		4,245,000		4,837,262
United Nations Development Corp., NY, Revenue		5.000	%		7/1/23		3,000,000		3,435,630
United Nations Development Corp., NY, Revenue		5.000	%		7/1/25		4,000,000		4,563,760
United Nations Development Corp., NY, Revenue		5.000	%		7/1/26		3,000,000		3,404,430
Virgin Islands Public Finance Authority Revenue		5.000	%		10/1/19		3,250,000		3,636,067
Virgin Islands Public Finance Authority Revenue, Matching Fund Loan		5.000	%		10/1/25		5,000,000		5,522,400
Total Special Tax Obligation									68,347,588
State General Obligation — 0.7%
Puerto Rico Commonwealth, GO:
Public Improvement		5.250	%		7/1/23		1,500,000		1,162,575
Public Improvement		5.000	%		7/1/41		1,000,000		693,820
Total State General Obligation									1,856,395
Transportation — 13.4%
MTA, NY, Revenue		5.250	%		11/15/23		5,760,000		6,819,322
MTA, NY, Revenue		6.250	%		11/15/23		3,500,000		4,190,340
MTA, NY, Revenue		5.000	%		11/15/25		1,500,000		1,748,265
New York City, NY, Industrial Development Agency, Airport Facilities Revenue		5.000	%		7/1/17		2,215,000		2,393,307	(a)
New York State Thruway Authority General Revenue, Junior Indebtedness Obligations		5.000	%		5/1/19		3,000,000		3,460,380
New York State Thruway Authority, Second General Highway & Bridge Trust Fund		5.000	%		4/1/23		4,000,000		4,568,560

See Notes to Financial Statements.

Western Asset Intermediate Maturity New York Municipals Fund 2014 Annual Report 15

Schedule of investments (cont’d)

November 30, 2014

Western Asset Intermediate Maturity New York Municipals Fund

Security	Rate			Maturity Date		Face Amount		Value
Transportation — continued
New York State Thruway Authority, State Personal Income Tax Revenue		5.000	%		3/15/19	$	1,000,000	$	1,116,840
Niagara Falls, Bridge Commission Toll Revenue, FGIC		5.250	%		10/1/15		60,000		61,858
Port Authority of New York & New Jersey Revenue		5.000	%		9/1/25		2,000,000		2,372,880	(a)
Port Authority of New York & New Jersey Revenue		5.000	%		9/1/26		5,935,000		6,986,148	(a)
Total Transportation									33,717,900
Water & Sewer — 4.1%
New York State Environmental Facilities Corp., State Clean Water & Drinking Revenue		5.250	%		6/15/22		5,915,000		6,945,985
New York State Environmental Facilities Corp., State Clean Water & Drinking Revenue:
Revolving Funds, NYC Municipal Water Finance Projects, Second Resolution		5.000	%		6/15/23		1,250,000		1,538,425
Revolving Funds, NYC Municipal Water Finance Projects, Second Resolution		5.000	%		6/15/24		1,500,000		1,840,845
Total Water & Sewer									10,325,255
Total Investments before Short-Term Investments (Cost — $211,219,907)									231,439,721
Short-Term Investments — 6.9%
Finance — 2.2%
New York City, NY, TFA Revenue:
Future Tax Secured, SPA-Citibank N.A.		0.050	%		8/1/31		360,000		360,000	(f)(g)
Future Tax Secured, SPA-Dexia Credit Local		0.180	%		8/1/22		450,000		450,000	(f)(g)
Future Tax Secured, SPA-Dexia Credit Local		0.180	%		8/1/23		1,905,000		1,905,000	(f)(g)
Future Tax Secured, SPA-Dexia Credit Local		0.200	%		8/1/31		200,000		200,000	(f)(g)
New York City Recovery Project Revenue, Subordinated, LIQ-Dexia Credit Local		0.180	%		11/1/22		1,920,000		1,920,000	(f)(g)
New York State Housing Finance Agency Revenue, Gotham West Housing, LOC-Wells Fargo Bank N.A.		0.040	%		5/1/45		600,000		600,000	(f)(g)
Total Finance									5,435,000
General Obligation — 1.3%
New York City, NY, GO:
AGM, SPA-Dexia Credit Local		0.180	%		11/1/26		150,000		150,000	(f)(g)
LIQ-Dexia Credit Local		0.180	%		4/1/35		500,000		500,000	(f)(g)
SPA-Dexia Credit Local		0.180	%		8/1/28		1,425,000		1,425,000	(f)(g)
Subordinated, LOC-Dexia Credit Local		0.180	%		3/1/34		200,000		200,000	(f)(g)
Oregon State, GO, Veterans Welfare, SPA-U.S. Bank N.A.		0.040	%		6/1/41		1,100,000		1,100,000	(f)(g)
Total General Obligation									3,375,000
Health Care — 0.5%
Bucks County, PA, St. Mary Hospital Authority, Catholic Health, SPA-Landesbank Hessen-Thurigen		0.040	%		3/1/32		800,000		800,000	(f)(g)

See Notes to Financial Statements.

16 Western Asset Intermediate Maturity New York Municipals Fund 2014 Annual Report

Western Asset Intermediate Maturity New York Municipals Fund

Security	Rate			Maturity Date		Face Amount		Value
Health Care — continued
Illinois State Finance Authority Revenue, Northwestern Memorial Hospital-A-2		0.040	%		8/15/42	$	100,000	$	100,000	(f)(g)
Missouri State HEFA Revenue, BJC Health System		0.030	%		5/15/38		100,000		100,000	(f)(g)
North Broward, FL, Hospital District Revenue, NATL, LOC-Wells Fargo Bank N.A.		0.040	%		1/15/27		200,000		200,000	(f)(g)
Total Health Care									1,200,000
Housing: Multi-Family — 0.7%
Florida Housing Finance Corp., Multi-Family Mortgage Revenue, Cutler Riverside Preservation Apartments, LIQ-FHLMC		0.060	%		6/1/48		100,000		100,000	(a)(f)(g)
New York City, NY, HDC, MFH Revenue, LIQ-JPMorgan Chase		0.040	%		5/1/18		1,200,000		1,200,000	(f)(g)
New York State Housing Finance Agency Revenue, Gotham West Housing, LOC-Wells Fargo Bank N.A.		0.040	%		5/1/45		500,000		500,000	(f)(g)
Total Housing: Multi-Family									1,800,000
Housing: Single Family — 0.1%
Vancouver, WA, Housing Authority Revenue, LIQ-FHLMC		0.040	%		12/1/38		100,000		100,000	(f)(g)
Vermont State Housing Finance Agency Revenue, Multiple Purpose, SPA-Bank of New York Mellon		0.060	%		11/1/37		200,000		200,000	(a)(f)(g)
Total Housing: Single Family									300,000
Industrial Revenue — 0.2%
Raleigh, NC, Combined Enterprise System Revenue, SPA-Wells Fargo Bank N.A.		0.040	%		3/1/35		200,000		200,000	(f)(g)
Raleigh, NC, COP, Downtown Improvement Project, SPA-Wells Fargo Bank N.A.		0.040	%		2/1/34		300,000		300,000	(f)(g)
Total Industrial Revenue									500,000
Power — 0.0%
Long Island, NY, Power Authority Revenue, LOC-TD Bank N.A.		0.040	%		12/1/29		100,000		100,000	(f)(g)
Solid Waste/Resource Recovery — 0.6%
New Hampshire State Business Finance Authority, Lonza Biologies Inc. Project, LOC-Landesbank Hessen-Thuringen		0.170	%		11/1/20		1,400,000		1,400,000	(a)(f)(g)
Water & Sewer — 1.3%
New York City, NY, Municipal Water Finance Authority, Water & Sewer System Revenue:
Second General Resolution, SPA-Dexia Credit Local		0.150	%		6/15/32		2,300,000		2,300,000	(f)(g)
SPA-Dexia Credit Local		0.180	%		6/15/32		1,000,000		1,000,000	(f)(g)
Total Water & Sewer									3,300,000
Total Short-Term Investments (Cost — $17,410,000)									17,410,000
Total Investments — 98.9% (Cost — $228,629,907#)									248,849,721
Other Assets in Excess of Liabilities — 1.1%									2,828,719
Total Net Assets — 100.0%								$	251,678,440

See Notes to Financial Statements.

Western Asset Intermediate Maturity New York Municipals Fund 2014 Annual Report 17

Schedule of investments (cont’d)

November 30, 2014

Western Asset Intermediate Maturity New York Municipals Fund

^(a)  Income from this issue is considered a preference item for purposes of calculating the alternative minimum tax (“AMT”).

^(b)  Variable rate security. Interest rate disclosed is as of the most recent information available.

^(c)  Maturity date shown represents the mandatory tender date.

^(d)  Security is exempt from registration under Rule 144A of the Securities Act of 1933. This security may be resold in transactions that are exempt from registration, normally to qualified institutional buyers. This security has been deemed liquid pursuant to guidelines approved by the Board of Trustees, unless otherwise noted.

^(e)  All or a portion of this security is held at the broker as collateral for open futures contracts.

^(f)  Variable rate demand obligations have a demand feature under which the Fund can tender them back to the issuer or liquidity provider on no more than 7 days notice.

^(g)  Maturity date shown is the final maturity date. The security may be sold back to the issuer before final maturity.

^(h)  Security is valued in good faith in accordance with procedures approved by the Board of Trustees (see Note 1).

# Aggregate cost for federal income tax purposes is $228,593,002.

Abbreviations used in this schedule:
AGM	— Assured Guaranty Municipal Corporation — Insured Bonds
COP	— Certificates of Participation
FGIC	— Financial Guaranty Insurance Company — Insured Bonds
FHA	— Federal Housing Administration
FHLMC	— Federal Home Loan Mortgage Corporation
GO	— General Obligation
HDC	— Housing Development Corporation
HEFA	— Health & Educational Facilities Authority
IDA	— Industrial Development Authority
LIQ	— Liquidity Facility
LOC	— Letter of Credit
MFH	— Multi-Family Housing
MTA	— Metropolitan Transportation Authority
NATL	— National Public Finance Guarantee Corporation — Insured Bonds
PCR	— Pollution Control Revenue
SPA	— Standby Bond Purchase Agreement — Insured Bonds
TFA	— Transitional Finance Authority

See Notes to Financial Statements.

18 Western Asset Intermediate Maturity New York Municipals Fund 2014 Annual Report

Western Asset Intermediate Maturity New York Municipals Fund

Ratings table* (unaudited)
Standard & Poor’s/Moody’s/Fitch**
AAA/Aaa	16.8	%
AA/Aa	33.2
A	26.1
BBB/Baa	15.7
BB/Ba	0.8
A-1/VMIG 1	7.0
NR	0.4
	100.0	%

* As a percentage of total investments.

** The ratings shown are based on each portfolio security’s rating as determined by Standard & Poor’s, Moody’s or Fitch, each a Nationally Recognized Statistical Rating Organization (“NRSRO”). These ratings are the opinions of the NRSRO and are not measures of quality or guarantees of performance. Securities may be rated by other NRSROs, and these ratings may be higher or lower. In the event that a security is rated by multiple NRSROs and receives different ratings, the Fund will treat the security as being rated in the highest rating category received from a NRSRO.

See Notes to Financial Statements.

Western Asset Intermediate Maturity New York Municipals Fund 2014 Annual Report 19

Statement of assets and liabilities

November 30, 2014

Assets:
Investments, at value (Cost — $228,629,907)	$	248,849,721
Cash		58,650
Interest receivable		3,239,206
Receivable for Fund shares sold		213,143
Prepaid expenses		31,131
Total Assets		252,391,851
Liabilities:
Payable for Fund shares repurchased		344,589
Investment management fee payable		95,668
Service and/or distribution fees payable		61,609
Distributions payable		52,600
Payable to broker — variation margin on open futures contracts		51,250
Trustees’ fees payable		941
Accrued expenses		106,754
Total Liabilities		713,411
Total Net Assets	$	251,678,440
Net Assets:
Par value (Note 7)	$	278
Paid-in capital in excess of par value		246,194,768
Undistributed net investment income		281,849
Accumulated net realized loss on investments and futures contracts		(14,611,659)
Net unrealized appreciation on investments and futures contracts		19,813,204
Total Net Assets	$	251,678,440
Shares Outstanding:
Class A		16,220,094
Class C		7,873,096
Class I		3,722,478
Net Asset Value:
Class A (and redemption price)		$9.05
Class C (and redemption price)		$9.05
Class I (and redemption price)		$9.03
Maximum Public Offering Price Per Share:
Class A (based on maximum initial sales charge of 2.25%)		$9.26

See Notes to Financial Statements.

20 Western Asset Intermediate Maturity New York Municipals Fund 2014 Annual Report

Statement of operations

For the Year Ended November 30, 2014

Investment Income:
Interest	$	9,181,025
Expenses:
Investment management fee (Note 2)		1,192,894
Service and/or distribution fees (Notes 2 and 5)		750,878
Transfer agent fees (Note 5)		136,165
Registration fees		37,235
Legal fees		35,501
Audit and tax fees		35,378
Fund accounting fees		23,245
Shareholder reports		22,866
Insurance		6,090
Trustees’ fees		4,281
Custody fees		1,690
Miscellaneous expenses		4,477
Total Expenses		2,250,700
Less: Fee waivers and/or expense reimbursements (Notes 2 and 5)		(68,350)
Net Expenses		2,182,350
Net Investment Income		6,998,675
Realized and Unrealized Gain (Loss) on Investments and Futures Contracts (Notes 1, 3 and 4):
Net Realized Loss From:
Investment transactions		(459,468)
Futures contracts		(921,367)
Net Realized Loss		(1,380,835)
Change in Net Unrealized Appreciation (Depreciation) From:
Investments		8,691,069
Futures contracts		(428,104)
Change in Net Unrealized Appreciation (Depreciation)		8,262,965
Net Gain on Investments and Futures Contracts		6,882,130
Increase in Net Assets from Operations	$	13,880,805

See Notes to Financial Statements.

Western Asset Intermediate Maturity New York Municipals Fund 2014 Annual Report 21

Statements of changes in net assets

For the Years Ended November 30,	2014		2013
Operations:
Net investment income	$	6,998,675	$	8,017,093
Net realized loss		(1,380,835)		(2,728,843)
Change in net unrealized appreciation (depreciation)		8,262,965		(17,986,219)
Increase (Decrease) in Net Assets From Operations		13,880,805		(12,697,969)
Distributions to Shareholders From (Notes 1 and 6):
Net investment income		(6,989,042)		(8,009,694)
Decrease in Net Assets From Distributions to Shareholders		(6,989,042)		(8,009,694)
Fund Share Transactions (Note 7):
Net proceeds from sale of shares		70,558,906		74,798,159
Reinvestment of distributions		6,300,486		7,226,375
Cost of shares repurchased		(78,124,587)		(96,269,275)
Decrease in Net Assets From Fund Share Transactions		(1,265,195)		(14,244,741)
Increase (Decrease) in Net Assets		5,626,568		(34,952,404)
Net Assets:
Beginning of year		246,051,872		281,004,276
End of year*	$	251,678,440	$	246,051,872
*Includes undistributed net investment income of:		$281,849		$269,663

See Notes to Financial Statements.

22 Western Asset Intermediate Maturity New York Municipals Fund 2014 Annual Report

Financial highlights

For a share of each class of beneficial interest outstanding throughout each year ended November 30:
Class A Shares1	2014			2013			2012			2011			2010
Net asset value, beginning of year		$8.79			$9.45			$8.92			$8.73			$8.88
Income (loss) from operations:
Net investment income		0.28			0.28			0.30			0.32			0.32
Net realized and unrealized gain (loss)		0.26			(0.66)			0.53			0.19			(0.15)
Total income (loss) from operations		0.54			(0.38)			0.83			0.51			0.17
Less distributions from:
Net investment income		(0.28)			(0.28)			(0.30)			(0.32)			(0.32)
Total distributions		(0.28)			(0.28)			(0.30)			(0.32)			(0.32)
Net asset value, end of year		$9.05			$8.79			$9.45			$8.92			$8.73
Total return2		6.18	%		(4.03)	%		9.43	%		5.99	%		1.87	%
Net assets, end of year (000s)		$146,780			$142,096			$157,270			$141,718			$153,256
Ratios to average net assets:
Gross expenses		0.76	%		0.76	%		0.74	%		0.74	%		0.74	%
Net expenses3,4		0.75	5		0.75	5		0.74	5		0.74	5		0.74
Net investment income		3.10			3.11			3.25			3.68			3.54
Portfolio turnover rate		9	%		13	%		8	%		12	%		18	%

¹  Per share amounts have been calculated using the average shares method.

²  Performance figures, exclusive of sales charges, may reflect compensating balance arrangements, fee waivers and/or expense reimbursements. In the absence of compensating balance arrangements, fee waivers and/or expense reimbursements, the total return would have been lower. Past performance is no guarantee of future results.

³  The impact of compensating balance arrangements, if any, was less than 0.01%.

⁴  As a result of an expense limitation arrangement, the ratio of expenses, other than interest, brokerage, taxes, extraordinary expenses and acquired fund fees and expenses, to average net assets of Class A shares did not exceed 0.75%. This expense limitation arrangement cannot be terminated prior to December 31, 2016 without the Board of Trustees’ consent.

⁵  Reflects fee waivers and/or expense reimbursements.

See Notes to Financial Statements.

Western Asset Intermediate Maturity New York Municipals Fund 2014 Annual Report 23

Financial highlights (cont’d)

For a share of each class of beneficial interest outstanding throughout each year ended November 30:
Class C Shares1	2014			2013			2012			2011			2010
Net asset value, beginning of year		$8.79			$9.45			$8.92			$8.73			$8.88
Income (loss) from operations:
Net investment income		0.22			0.23			0.24			0.27			0.26
Net realized and unrealized gain (loss)		0.26			(0.66)			0.53			0.19			(0.15)
Total income (loss) from operations		0.48			(0.43)			0.77			0.46			0.11
Less distributions from:
Net investment income		(0.22)			(0.23)			(0.24)			(0.27)			(0.26)
Total distributions		(0.22)			(0.23)			(0.24)			(0.27)			(0.26)
Net asset value, end of year		$9.05			$8.79			$9.45			$8.92			$8.73
Total return2		5.55	%		(4.61)	%		8.77	%		5.36	%		1.25	%
Net assets, end of year (000s)		$71,277			$82,540			$96,413			$73,601			$80,837
Ratios to average net assets:
Gross expenses		1.38	%		1.36	%		1.36	%		1.37	%		1.36	%
Net expenses3,4,5		1.35			1.35			1.35			1.35			1.35
Net investment income		2.50			2.51			2.64			3.08			2.92
Portfolio turnover rate		9	%		13	%		8	%		12	%		18	%

¹  Per share amounts have been calculated using the average shares method.

²  Performance figures may reflect compensating balance arrangements, fee waivers and/or expense reimbursements. In the absence of compensating balance arrangements, fee waivers and/or expense reimbursements, the total return would have been lower. Past performance is no guarantee of future results.

³  Reflects fee waivers and/or expense reimbursements.

⁴  The impact of compensating balance arrangements, if any, was less than 0.01%.

⁵  As a result of an expense limitation arrangement, the ratio of expenses, other than interest, brokerage, taxes, extraordinary expenses and acquired fund fees and expenses, to average net assets of Class C shares did not exceed 1.35%. This expense limitation arrangement cannot be terminated prior to December 31, 2016 without the Board of Trustees’ consent.

See Notes to Financial Statements.

24 Western Asset Intermediate Maturity New York Municipals Fund 2014 Annual Report

For a share of each class of beneficial interest outstanding throughout each year ended November 30:
Class I Shares1	2014			2013			2012			2011			2010
Net asset value, beginning of year		$8.77			$9.43			$8.90			$8.71			$8.86
Income (loss) from operations:
Net investment income		0.29			0.30			0.31			0.33			0.33
Net realized and unrealized gain (loss)		0.26			(0.66)			0.53			0.19			(0.15)
Total income (loss) from operations		0.55			(0.36)			0.84			0.52			0.18
Less distributions from:
Net investment income		(0.29)			(0.30)			(0.31)			(0.33)			(0.33)
Total distributions		(0.29)			(0.30)			(0.31)			(0.33)			(0.33)
Net asset value, end of year		$9.03			$8.77			$9.43			$8.90			$8.71
Total return2		6.35	%		(3.91)	%		9.59	%		6.15	%		1.99	%
Net assets, end of year (000s)		$33,621			$21,415			$27,321			$19,498			$21,157
Ratios to average net assets:
Gross expenses		0.72	%		0.68	%		0.63	%		0.64	%		0.62	%
Net expenses3,4,5		0.60			0.60			0.60			0.60			0.60
Net investment income		3.23			3.26			3.39			3.82			3.68
Portfolio turnover rate		9	%		13	%		8	%		12	%		18	%

¹  Per share amounts have been calculated using the average shares method.

²  Performance figures may reflect compensating balance arrangements, fee waivers and/or expense reimbursements. In the absence of compensating balance arrangements, fee waivers and/or expense reimbursements, the total return would have been lower. Past performance is no guarantee of future results.

³  Reflects fee waivers and/or expense reimbursements.

⁴  The impact of compensating balance arrangements, if any, was less than 0.01%.

⁵  As a result of an expense limitation arrangement, the ratio of expenses, other than interest, brokerage, taxes, extraordinary expenses and acquired fund fees and expenses, to average net assets of Class I shares did not exceed 0.60%. This expense limitation arrangement cannot be terminated prior to December 31, 2016 without the Board of Trustees’ consent.

See Notes to Financial Statements.

Western Asset Intermediate Maturity New York Municipals Fund 2014 Annual Report 25

Notes to financial statements

1. Organization and significant accounting policies

Western Asset Intermediate Maturity New York Municipals Fund (the “Fund”) is a separate non-diversified investment series of Legg Mason Partners Income Trust (the “Trust”). The Trust, a Maryland statutory trust, is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company.

The following are significant accounting policies consistently followed by the Fund and are in conformity with U.S. generally accepted accounting principles (“GAAP”). Estimates and assumptions are required to be made regarding assets, liabilities and changes in net assets resulting from operations when financial statements are prepared. Changes in the economic environment, financial markets and any other parameters used in determining these estimates could cause actual results to differ. Subsequent events have been evaluated through the date the financial statements were issued.

(a) Investment valuation. The valuations for fixed income securities (which may include, but are not limited to, corporate, government, municipal, mortgage-backed, collateralized mortgage obligations and asset-backed securities) and certain derivative instruments are typically the prices supplied by independent third party pricing services, which may use market prices or broker/dealer quotations or a variety of valuation techniques and methodologies. The independent third party pricing services use inputs that are observable such as issuer details, interest rates, yield curves, prepayment speeds, credit risks/spreads, default rates and quoted prices for similar securities. Short-term fixed income securities that will mature in 60 days or less are valued at amortized cost, unless it is determined that using this method would not reflect an investment’s fair value. Futures contracts are valued daily at the settlement price established by the board of trade or exchange on which they are traded. If independent third party pricing services are unable to supply prices for a portfolio investment, or if the prices supplied are deemed by the manager to be unreliable, the market price may be determined by the manager using quotations from one or more broker/dealers or at the transaction price if the security has recently been purchased and no value has yet been obtained from a pricing service or pricing broker. When reliable prices are not readily available, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded, but before the Fund calculates its net asset value, the Fund values these securities as determined in accordance with procedures approved by the Fund’s Board of Trustees.

The Board of Trustees is responsible for the valuation process and has delegated the supervision of the daily valuation process to the Legg Mason North American Fund Valuation Committee (the “Valuation Committee”). The Valuation Committee, pursuant to the policies adopted by the Board of Trustees, is responsible for making fair value determinations, evaluating the effectiveness of the Fund’s pricing policies, and reporting to the Board of Trustees. When determining the reliability of third party pricing information for investments owned by the Fund, the Valuation Committee, among other things, conducts due diligence reviews of pricing vendors, monitors the daily change in prices and reviews transactions among market participants.

26 Western Asset Intermediate Maturity New York Municipals Fund 2014 Annual Report

The Valuation Committee will consider pricing methodologies it deems relevant and appropriate when making fair value determinations. Examples of possible methodologies include, but are not limited to, multiple of earnings; discount from market of a similar freely traded security; discounted cash-flow analysis; book value or a multiple thereof; risk premium/yield analysis; yield to maturity; and/or fundamental investment analysis. The Valuation Committee will also consider factors it deems relevant and appropriate in light of the facts and circumstances. Examples of possible factors include, but are not limited to, the type of security; the issuer’s financial statements; the purchase price of the security; the discount from market value of unrestricted securities of the same class at the time of purchase; analysts’ research and observations from financial institutions; information regarding any transactions or offers with respect to the security; the existence of merger proposals or tender offers affecting the security; the price and extent of public trading in similar securities of the issuer or comparable companies; and the existence of a shelf registration for restricted securities.

For each portfolio security that has been fair valued pursuant to the policies adopted by the Board of Trustees, the fair value price is compared against the last available and next available market quotations. The Valuation Committee reviews the results of such back testing monthly and fair valuation occurrences are reported to the Board of Trustees quarterly.

The Fund uses valuation techniques to measure fair value that are consistent with the market approach and/or income approach, depending on the type of security and the particular circumstance. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable securities. The income approach uses valuation techniques to discount estimated future cash flows to present value.

GAAP establishes a disclosure hierarchy that categorizes the inputs to valuation techniques used to value assets and liabilities at measurement date. These inputs are summarized in the three broad levels listed below:

Ÿ Level 1 — quoted prices in active markets for identical investments

Ÿ Level 2 — other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)

Ÿ Level 3 — significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

Western Asset Intermediate Maturity New York Municipals Fund 2014 Annual Report 27

Notes to financial statements (cont’d)

The following is a summary of the inputs used in valuing the Fund’s assets and liabilities carried at fair value:

ASSETS
Description	Quoted Prices (Level 1)		Other Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Municipal bonds†		—	$	231,439,721		—	$	231,439,721
Short-term investments†		—		17,410,000		—		17,410,000
Total investments		—	$	248,849,721		—	$	248,849,721
LIABILITIES
Description	Quoted Prices (Level 1)		Other Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Other financial instruments:
Futures contracts	$	406,610		—		—	$	406,610

† See Schedule of Investments for additional detailed categorizations.

(b) Futures contracts. The Fund uses futures contracts generally to gain exposure to, or hedge against, changes in interest rates or gain exposure to, or hedge against, changes in certain asset classes. A futures contract represents a commitment for the future purchase or sale of an asset at a specified price on a specified date.

Upon entering into a futures contract, the Fund is required to deposit cash or cash equivalents with a broker in an amount equal to a certain percentage of the contract amount. This is known as the “initial margin” and subsequent payments (“variation margin”) are made or received by the Fund each day, depending on the daily fluctuation in the value of the contract. The daily changes in contract value are recorded as unrealized gains or losses in the Statement of Operations and the Fund recognizes a realized gain or loss when the contract is closed.

Futures contracts involve, to varying degrees, risk of loss in excess of the amounts reflected in the financial statements. In addition, there is the risk that the Fund may not be able to enter into a closing transaction because of an illiquid secondary market.

(c) Fund concentration. Since the Fund invests primarily in obligations of issuers within New York, it is subject to possible risks associated with economic, political, credit or legal developments or industrial or regional matters specifically affecting New York.

(d) Security transactions and investment income. Security transactions are accounted for on a trade date basis. Interest income, adjusted for amortization of premium and accretion of discount, is recorded on the accrual basis. The cost of investments sold is determined by use of the specific identification method. To the extent any issuer defaults or a credit event occurs that impacts the issuer, the Fund may halt any additional interest income accruals and consider the realizability of interest accrued up to the date of default or credit event.

28 Western Asset Intermediate Maturity New York Municipals Fund 2014 Annual Report

(e) Distributions to shareholders. Distributions from net investment income of the Fund are declared each business day to shareholders of record, and are paid monthly. The Fund intends to satisfy conditions that will enable interest from municipal securities, which is exempt from federal and certain state income taxes, to retain such tax-exempt status when distributed to the shareholders of the Fund. Distributions of net realized gains, if any, are taxable and are declared at least annually. Distributions to shareholders of the Fund are recorded on the ex-dividend date and are determined in accordance with income tax regulations, which may differ from GAAP.

(f) Share class accounting. Investment income, common expenses and realized/unrealized gains (losses) on investments are allocated to the various classes of the Fund on the basis of daily net assets of each class. Fees relating to a specific class are charged directly to that share class.

(g) Compensating balance arrangements. The Fund has an arrangement with its custodian bank whereby a portion of the custodian’s fees is paid indirectly by credits earned on the Fund’s cash on deposit with the bank.

(h) Federal and other taxes. It is the Fund’s policy to comply with the federal income and excise tax requirements of the Internal Revenue Code of 1986 (the “Code”), as amended, applicable to regulated investment companies. Accordingly, the Fund intends to distribute its taxable income and net realized gains, if any, to shareholders in accordance with timing requirements imposed by the Code. Therefore, no federal or state income tax provision is required in the Fund’s financial statements.

Management has analyzed the Fund’s tax positions taken on income tax returns for all open tax years and has concluded that as of November 30, 2014, no provision for income tax is required in the Fund’s financial statements. The Fund’s federal and state income and federal excise tax returns for tax years for which the applicable statutes of limitations have not expired are subject to examination by the Internal Revenue Service and state departments of revenue.

(i) Reclassification. GAAP requires that certain components of net assets be reclassified to reflect permanent differences between financial and tax reporting. These reclassifications have no effect on net assets or net asset values per share. During the current year, the following reclassifications have been made:

	Undistributed Net Investment Income		Accumulated Net Realized Loss
(a)	$	2,553	$	(2,553)

^(a)  Reclassifications are primarily due to differences between book and tax accretion of market discount on fixed income securities.

2. Investment management agreement and other transactions with affiliates

Legg Mason Partners Fund Advisor, LLC (“LMPFA”) is the Fund’s investment manager and Western Asset Management Company (“Western Asset”) is the Fund’s subadviser. LMPFA and Western Asset are wholly-owned subsidiaries of Legg Mason, Inc. (“Legg Mason”).

Western Asset Intermediate Maturity New York Municipals Fund 2014 Annual Report 29

Notes to financial statements (cont’d)

Under the investment management agreement, the Fund pays an investment management fee, calculated daily and paid monthly, at an annual rate of 0.50% of the Fund’s average daily net assets.

LMPFA provides administrative and certain oversight services to the Fund. LMPFA delegates to the subadviser the day-to-day portfolio management of the Fund. For its services, LMPFA pays Western Asset 70% of the net management fee it receives from the Fund.

As a result of expense limitation arrangements between the Fund and LMPFA, the ratio of expenses other than interest, brokerage, taxes, extraordinary expenses and acquired fund fees and expenses, to average net assets of Class A, Class C and Class I shares did not exceed 0.75%, 1.35% and 0.60%, respectively. These expense limitation arrangements cannot be terminated prior to December 31, 2016 without the Board of Trustees’ consent.

During the year ended November 30, 2014, fees waived and/or expenses reimbursed amounted to $68,350.

The investment manager is permitted to recapture amounts waived and/or reimbursed to a class during the same fiscal year if the class’ total annual operating expenses have fallen to a level below the expense limitation (“expense cap”) in effect at the time the fees were earned or the expenses incurred. In no case will the investment manager recapture any amount that would result, on any particular business day of the Fund, in the class’ total annual operating expenses exceeding the expense cap or any other lower limit then in effect.

Legg Mason Investor Services, LLC (“LMIS”), a wholly-owned broker-dealer subsidiary of Legg Mason, serves as the Fund’s sole and exclusive distributor.

There is a maximum initial sales charge of 2.25% for Class A shares. In certain cases, Class A shares have a 0.50% contingent deferred sales charge (“CDSC”), which applies if redemption occurs within 18 months from purchase payment. This CDSC only applies to those purchases of Class A shares, which, when combined with current holdings of other shares of funds sold by LMIS, equal or exceed $500,000 in the aggregate. These purchases do not incur an initial sales charge.

For the year ended November 30, 2014, LMIS and its affiliates retained sales charges of $9,108 on sales of the Fund’s Class A shares. In addition, for the year ended November 30, 2014, CDSCs paid to LMIS and its affiliates were:

	Class A		Class C
CDSCs	$	15,567	$	917

All officers and one Trustee of the Trust are employees of Legg Mason or its affiliates and do not receive compensation from the Trust.

30 Western Asset Intermediate Maturity New York Municipals Fund 2014 Annual Report

3. Investments

During the year ended November 30, 2014, the aggregate cost of purchases and proceeds from sales of investments (excluding short-term investments) were as follows:

Purchases	$	21,132,419
Sales		37,464,931

At November 30, 2014, the aggregate gross unrealized appreciation and depreciation of investments for federal income tax purposes were as follows:

Gross unrealized appreciation	$	20,679,578
Gross unrealized depreciation		(422,859)
Net unrealized appreciation	$	20,256,719

At November 30, 2014, the Fund had the following open futures contracts:

	Number of Contracts		Expiration Date		Basis Value		Market Value		Unrealized Depreciation
Contracts to Sell:
U.S. Treasury Long-Term Bonds		82		12/14	$	11,406,515	$	11,813,125	$	(406,610)

4. Derivative instruments and hedging activities

Below is a table, grouped by derivative type, that provides information about the fair value and the location of derivatives within the Statement of Assets and Liabilities at November 30, 2014.

LIABILITY DERIVATIVES1
	Interest Rate Risk
Futures contracts2	$	406,610

¹  Generally, the balance sheet location for asset derivatives is receivables/net unrealized appreciation (depreciation) and for liability derivatives is payables/net unrealized appreciation (depreciation).

²  Includes cumulative appreciation (depreciation) of futures contracts as reported in the footnotes. Only variation margin is reported within the receivables and/or payables on the Statement of Assets and Liabilities.

The following tables provide information about the effect of derivatives and hedging activities on the Fund’s Statement of Operations for the year ended November 30, 2014. The first table provides additional detail about the amounts and sources of gains (losses) realized on derivatives during the period. The second table provides additional information about the change in unrealized appreciation (depreciation) resulting from the Fund’s derivatives and hedging activities during the period.

AMOUNT OF REALIZED GAIN (LOSS) ON DERIVATIVES RECOGNIZED
	Interest Rate Risk
Futures contracts	$	(921,367)

Western Asset Intermediate Maturity New York Municipals Fund 2014 Annual Report 31

Notes to financial statements (cont’d)

CHANGE IN UNREALIZED APPRECIATION (DEPRECIATION) ON DERIVATIVES RECOGNIZED
	Interest Rate Risk
Futures contracts	$	(428,104)

During the year ended November 30, 2014, the volume of derivative activity for the Fund was as follows:

	Average Market Value
Futures contracts (to sell)	$	10,291,615

The following table presents by financial instrument, the Fund’s derivative liabilities net of the related collateral pledged by the Fund at November 30, 2014:

	Gross Amount of Derivative Liabilities in the Statement  of Assets and Liabilities1		Collateral Pledged2,3,4		Net Amount
Futures contracts5	$	51,250	$	(51,250)		—

¹  Absent an event of default or early termination, derivative assets and liabilities are presented gross and not offset in the Statement of Assets and Liabilities.

²  Gross amounts not offset in the Statement of Assets and Liabilities.

³  In some instances, the actual collateral received and/or pledged may be more than the amount shown here due to overcollateralization.

⁴  See the accompanying Schedule of Investments for securities pledged as collateral.

⁵  Amount represents the current day’s variation margin as reported in the Statement of Assets and Liabilities. It differs from the cumulative appreciation (depreciation) presented in the previous table.

5. Class specific expenses, waivers and/or expense reimbursements

The Fund has adopted a Rule 12b-1 shareholder services and distribution plan and under that plan the Fund pays a service fee with respect to its Class A and Class C shares calculated at the annual rate of 0.15% of the average daily net assets of each respective class. The Fund also pays a distribution fee with respect to its Class C shares calculated at an annual rate of 0.60% of the average daily net assets of the class. Service and distribution fees are accrued daily and paid monthly.

For the year ended November 30, 2014, class specific expenses were as follows:

	Service and/or Distribution Fees		Transfer Agent Fees
Class A	$	209,288	$	57,516
Class C		541,590		39,037
Class I		—		39,612
Total	$	750,878	$	136,165

32 Western Asset Intermediate Maturity New York Municipals Fund 2014 Annual Report

For the year ended November 30, 2014, waivers and/or expense reimbursements by class were as follows:

	Waivers/Expense Reimbursements
Class A	$	17,677
Class C		18,705
Class I		31,968
Total	$	68,350

6. Distributions to shareholders by class

	Year Ended November 30, 2014		Year Ended November 30, 2013
Net Investment Income:
Class A	$	4,316,946	$	4,783,067
Class C		1,805,198		2,431,778
Class I		866,898		794,849
Total	$	6,989,042	$	8,009,694

7. Shares of beneficial interest

At November 30, 2014, the Fund had an unlimited number of shares of beneficial interest authorized with a par value of $0.00001 per share. The Fund has the ability to issue multiple classes of shares. Each class of shares represents an identical interest and has the same rights, except that each class bears certain direct expenses, including those specifically related to the distribution of its shares.

Transactions in shares of each class were as follows:

	Year Ended November 30, 2014				Year Ended November 30, 2013
	Shares		Amount		Shares		Amount
Class A
Shares sold		4,476,657	$	39,877,526		3,717,445	$	33,818,417
Shares issued on reinvestment		448,065		4,012,558		490,661		4,430,540
Shares repurchased		(4,878,609)		(43,286,035)		(4,678,147)		(41,981,944)
Net increase (decrease)		46,113	$	604,049		(470,041)	$	(3,732,987)
Class C
Shares sold		1,442,939	$	12,903,777		3,174,794	$	29,334,595
Shares issued on reinvestment		184,407		1,651,614		246,069		2,223,603
Shares repurchased		(3,145,257)		(27,887,041)		(4,229,257)		(37,971,028)
Net decrease		(1,517,911)	$	(13,331,650)		(808,394)	$	(6,412,830)
Class I
Shares sold		1,991,799	$	17,777,603		1,291,393	$	11,645,147
Shares issued on reinvestment		71,093		636,314		63,485		572,232
Shares repurchased		(782,464)		(6,951,511)		(1,809,706)		(16,316,303)
Net increase (decrease)		1,280,428	$	11,462,406		(454,828)	$	(4,098,924)

Western Asset Intermediate Maturity New York Municipals Fund 2014 Annual Report 33

Notes to financial statements (cont’d)

8. Income tax information and distributions to shareholders

Subsequent to the fiscal year end, the Fund has made the following distributions per share:

Record Date Payable Date	Class A		Class C		Class I
Daily 12/31/2014	$	0.023254	$	0.018498	$	0.024384

The tax character of distributions paid during the fiscal years ended November 30, was as follows:

	2014		2013
Distributions paid from:
Tax-exempt income	$	6,979,429	$	8,009,694
Ordinary income		9,613		—
Total distributions paid	$	6,989,042	$	8,009,694

As of November 30, 2014, the components of accumulated earnings on a tax basis were as follows:

Undistributed tax-exempt income — net	$	328,252
Deferred capital losses*		(4,969,473)
Capital loss carryforward**		(10,085,701)
Other book/tax temporary differences(a)		360,207
Unrealized appreciation (depreciation)(b)		19,850,109
Total accumulated earnings (losses) — net	$	5,483,394

* These capital losses have been deferred in the current year as either short-term or long-term losses. The losses will be deemed to occur on the first day of the next taxable year in the same character as they were originally deferred and will be available to offset future capital gains. These losses must be utilized before any of the Fund’s capital loss carryforward may be utilized.

** As of November 30, 2014, the Fund had the following net capital loss carryforward remaining:

Year of Expiration	Amount
11/30/2017	$	(3,833,887	)
11/30/2018		(5,189,080	)
11/30/2019		(1,062,734	)
	$	(10,085,701	)

These amounts will be available to offset any future taxable capital gains.

^(a)  Other book/tax temporary differences are attributable primarily to the realization for tax purposes of unrealized gains/(losses) on certain futures contracts and book/tax differences in the timing of the deductibility of various expenses.

^(b)  The difference between book-basis and tax-basis unrealized appreciation (depreciation) is attributable primarily to the difference between book & tax accretion methods for market discount on fixed income securities.

34 Western Asset Intermediate Maturity New York Municipals Fund 2014 Annual Report

Report of independent registered public accounting firm

The Board of Trustees and Shareholders

Legg Mason Partners Income Trust:

We have audited the accompanying statement of assets and liabilities of Western Asset Intermediate Maturity New York Municipals Fund (the “Fund”), a series of Legg Mason Partners Income Trust, including the schedule of investments, as of November 30, 2014, and the related statement of operations for the year then ended, the statements of changes in net assets for each of the years in the two-year period then ended, and the financial highlights for each of the years in the five-year period then ended. These financial statements and financial highlights are the responsibility of the Fund’s management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of November 30, 2014, by correspondence with the custodian and brokers or by other appropriate auditing procedures. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements and financial highlights referred to above present fairly, in all material respects, the financial position of Western Asset Intermediate Maturity New York Municipals Fund as of November 30, 2014, and the results of its operations for the year then ended, the changes in its net assets for each of the years in the two-year period then ended, and the financial highlights for each of the years in the five-year period then ended, in conformity with U.S. generally accepted accounting principles.

New York, New York

January 16, 2015

Western Asset Intermediate Maturity New York Municipals Fund 2014 Annual Report 35

Board approval of management and subadvisory agreements (unaudited)

At an in-person meeting of the Board of Trustees of Legg Mason Partners Income Trust (the “Trust”) held on November 10-11, 2014, the Board, including the Trustees who are not considered to be “interested persons” of the Trust (the “Independent Trustees”) under the Investment Company Act of 1940, as amended (the “1940 Act”), approved for an annual period the continuation of the management agreement (the “Management Agreement”) between the Trust and Legg Mason Partners Fund Advisor, LLC (the “Manager”) with respect to the Western Asset Intermediate Maturity New York Municipals Fund, a series of the Trust (the “Fund”), and the sub-advisory agreement (the “Sub-Advisory Agreement”) between the Manager and Western Asset Management Company (the “Subadviser”), an affiliate of the Manager, with respect to the Fund.

Background

The Board received information in advance of the meeting from the Manager to assist it in its consideration of the Management Agreement and the Sub-Advisory Agreement and was given the opportunity to ask questions and request additional information from management. In addition, prior to the meeting the Independent Trustees met with their independent legal counsel to discuss and consider the information provided by management and submitted questions to management, and they considered the responses provided. The Board received and considered a variety of information about the Manager and the Subadviser, as well as the management and sub-advisory arrangements for the Fund and other funds overseen by the Board, certain portions of which are discussed below. The information provided and presentations made to the Board encompassed the Fund and all funds for which the Board has responsibility. The discussion below covers both the advisory and the administrative functions being rendered by the Manager, both of which functions are encompassed by the Management Agreement, as well as the advisory functions rendered by the Subadviser pursuant to the Sub-Advisory Agreement.

Board approval of management agreement and sub-advisory agreement

The Independent Trustees were advised by separate independent legal counsel throughout the process. Prior to voting, the Independent Trustees received a memorandum from their independent legal counsel discussing the legal standards for their consideration of the proposed continuation of the Management Agreement and the Sub-Advisory Agreement. The Independent Trustees also reviewed the proposed continuation of the Management Agreement and the Sub-Advisory Agreement in private sessions with their independent legal counsel at which no representatives of the Manager or Subadviser were present. The Independent Trustees considered the Management Agreement and Sub-Advisory Agreement separately in the course of their review. In doing so, they noted the respective roles of the Manager and the Subadviser in providing services to the Fund.

In approving the Management Agreement and Sub-Advisory Agreement, the Board, including the Independent Trustees, considered a variety of factors, including those factors discussed below. No single factor reviewed by the Board was identified by the Board as the principal factor in determining whether to approve the Management Agreement and the

36 Western Asset Intermediate Maturity New York Municipals Fund

Sub-Advisory Agreement. Each Trustee may have attributed different weight to the various factors in evaluating the Management Agreement and Sub-Advisory Agreement.

Nature, extent and quality of the services under the management agreement and sub-advisory agreement

The Board received and considered information regarding the nature, extent and quality of services provided to the Fund by the Manager and the Subadviser under the Management Agreement and the Sub-Advisory Agreement, respectively, during the past year. The Board noted information received at regular meetings throughout the year related to the services rendered by the Manager in its management of the Fund’s affairs and the Manager’s role in coordinating the activities of the Fund’s other service providers. The Board’s evaluation of the services provided by the Manager and the Subadviser took into account the Board’s knowledge gained as Trustees of funds in the Legg Mason fund complex, including knowledge gained regarding the scope and quality of the investment management and other capabilities of the Manager and the Subadviser, and the quality of the Manager’s administrative and other services. The Board observed that the scope of services provided by the Manager and the Subadviser, and of the undertakings required of the Manager and Subadviser in connection with those services, including maintaining and monitoring their own and the Fund’s compliance programs, had expanded over time as a result of regulatory, market and other developments. The Board also noted that on a regular basis it received and reviewed information from the Manager and the Subadviser regarding the Fund’s compliance policies and procedures established pursuant to Rule 38a-1 under the 1940 Act. The Board also considered the Manager’s and the Sub-Adviser’s risk management processes.

The Board reviewed the qualifications, backgrounds and responsibilities of the Manager’s and the Subadviser’s senior personnel and the team of investment professionals primarily responsible for the day-to-day portfolio management of the Fund. The Board also considered, based on its knowledge of the Manager and its affiliates, the financial resources of Legg Mason, Inc., the parent organization of the Manager and the Subadviser.

The Board considered the division of responsibilities between the Manager and the Subadviser and the oversight provided by the Manager. The Board also considered the Manager’s and the Subadviser’s policies and practices regarding the selection of brokers and dealers and the execution of portfolio transactions. In addition, management also reported to the Board on, among other things, its business plans and organizational changes.

The Board received and considered performance information for the Fund as well as for a group of funds (the “Performance Universe”) selected by Lipper, Inc. (“Lipper”), an independent provider of investment company data. The Board was provided with a description of the methodology Lipper used to determine the similarity of the Fund with the funds included in the Performance Universe. The Board also noted that it had received and discussed with management information throughout the year at periodic intervals comparing the Fund’s performance against its benchmark and against the Fund’s peers. In addition, the Board considered the Fund’s performance in light of overall financial market conditions.

Western Asset Intermediate Maturity New York Municipals Fund 37

Board approval of management and subadvisory agreements (unaudited) (cont’d)

The information comparing the Fund’s performance to that of its Performance Universe, consisting of all retail and institutional funds classified as New York intermediate municipal debt funds by Lipper, showed, among other data, that the Fund’s performance was above the median for the 1-, 3-, 5- and 10-year periods ended June 30, 2014.

The Board concluded that, overall, the nature, extent and quality of services provided (and expected to be provided), including performance, under the Management Agreement and the Sub-Advisory Agreement were sufficient for renewal.

Management fees and expense ratios

The Board reviewed and considered the contractual management fee (the “Contractual Management Fee”) and the actual fees paid by the Fund to the Manager (the “Actual Management Fee”) in light of the nature, extent and quality of the management and sub-advisory services provided by the Manager and the Subadviser. The Board also considered that fee waiver and/or expense reimbursement arrangements are currently in place for the Fund. In addition, the Board noted that the compensation paid to the Subadviser is paid by the Manager, not the Fund.

In addition, the Board received and considered information provided by Lipper comparing the Contractual Management Fee and the Actual Management Fee and the Fund’s total actual expenses with those of funds in both the relevant expense group and a broader group of funds, each selected by Lipper. The Board also reviewed information regarding fees charged by the Manager to other U.S. clients investing primarily in an asset class similar to that of the Fund, including, where applicable, separate accounts.

The Manager reviewed with the Board the differences in services provided to these different types of accounts, noting that the Fund is provided with certain administrative services, office facilities, and Fund officers (including the Fund’s chief executive, chief financial and chief compliance officers), and that the Manager coordinates and oversees the provision of services to the Fund by other Fund service providers. The Board considered the fee comparisons in light of the differences in management of these different types of accounts.

The Board considered the overall management fee, Subadviser’s fees and the amount of the management fee retained by the Manager after payment of the subadvisory fee in each case in light of the services rendered for those amounts. The Board also received an analysis of complex-wide management fees provided by the Manager, which, among other things, set out a framework of fees based on asset classes.

The information comparing the Fund’s Contractual and Actual Management Fees as well as its actual total expense ratio to its expense group, consisting of a group of retail front-end load funds (including the Fund) classified as New York intermediate municipal debt funds and chosen by Lipper to be comparable to the Fund, showed that the Fund’s Contractual Management Fee was below the median and that its Actual Management Fee was above the median. The Board noted that the Fund’s actual total expense ratio was below the

38 Western Asset Intermediate Maturity New York Municipals Fund

median. The Board took into account management’s discussion of the Fund’s expenses. The Board also considered that the current limitation on the Fund’s expenses is expected to continue through December 2016.

Taking all of the above into consideration, as well as the factors identified below, the Board determined that the management fee and the subadvisory fee for the Fund were reasonable in light of the nature, extent and quality of the services provided to the Fund under the Management Agreement and the Sub-Advisory Agreement.

Manager profitability

The Board received and considered an analysis of the profitability of the Manager and its affiliates in providing services to the Fund. The Board also received profitability information with respect to the Legg Mason fund complex as a whole. In addition, the Board received information with respect to the Manager’s allocation methodologies used in preparing this profitability data. It was noted that the allocation methodologies had been reviewed previously by an outside consultant. The profitability of the Manager and its affiliates was considered by the Board not excessive in light of the nature, extent and quality of the services provided to the Fund and the type of fund it represented.

Economies of scale

The Board received and discussed information concerning whether the Manager realizes economies of scale as the Fund’s assets grow. The Board considered that the Contractual Management Fee is approximately equivalent to the asset-weighted average of management fees paid by other funds in the same Lipper investment classification/objective at lower asset levels, and only slightly higher at higher asset levels. The Board also considered that the Contractual Management Fee and actual total expense ratio are below the median of the expense group.

The Board determined that the management fee structure for the Fund was reasonable.

Other benefits to the manager and the subadviser

The Board considered other benefits received by the Manager, the Subadviser and their affiliates as a result of their relationship with the Fund, including the opportunity to offer additional products and services to Fund shareholders.

In light of the costs of providing investment management and other services to the Fund and the ongoing commitment of the Manager and the Subadviser to the Fund, the Board considered that the ancillary benefits that the Manager and its affiliates received were reasonable.

*  *  *

In light of all of the foregoing, the Board determined that the continuation of each of the Management Agreement and Sub-Advisory Agreement would be in the best interests of the Fund’s shareholders and approved the continuation of such agreements for another year.

Western Asset Intermediate Maturity New York Municipals Fund 39

Additional information (unaudited)

Information about Trustees and Officers

The business and affairs of Western Asset Intermediate Maturity New York Municipals Fund (the “Fund”) are conducted by management under the supervision and subject to the direction of its Board of Trustees. The business address of each Trustee is c/o Kenneth D. Fuller, Legg Mason, 100 International Drive, 11th Floor, Baltimore, Maryland 21202. Information pertaining to the Trustees and officers of the Fund is set forth below.

The Statement of Additional Information includes additional information about Trustees and is available, without charge, upon request by calling the Fund at 1-877-721-1926 or 1-203-703-6002.

Independent Trustees†:
Elliott J. Berv
Year of birth	1943
Position(s) with Trust	Trustee
Term of office1 and length of time served2	Since 1989
Principal occupation(s) during past five years	President and Chief Executive Officer, Catalyst (consulting) (since 1984); formerly, Chief Executive Officer, Rocket City Enterprises (media) (2000 to 2005)
Number of funds in fund complex overseen by Trustee	55
Other board memberships held by Trustee during past five years	None
Jane F. Dasher
Year of birth	1949
Position(s) with Trust	Trustee
Term of office1 and length of time served2	Since 1999
Principal occupation(s) during past five years	Chief Financial Officer, Long Light Capital, LLC, formerly known as Korsant Partners, LLC (a family investment company) (since 1997)
Number of funds in fund complex overseen by Trustee	55
Other board memberships held by Trustee during past five years	None
Mark T. Finn
Year of birth	1943
Position(s) with Trust	Trustee
Term of office1 and length of time served2	Since 1989
Principal occupation(s) during past five years	Adjunct Professor, College of William & Mary (since 2002); Chairman, Chief Executive Officer and Owner, Vantage Consulting Group, Inc. (investment management) (since 1988); Principal/Member, Balvan Partners (investment management) (2002 to 2009)
Number of funds in fund complex overseen by Trustee	55
Other board memberships held by Trustee during past five years	None

40 Western Asset Intermediate Maturity New York Municipals Fund

Independent Trustees cont’d
Stephen R. Gross
Year of birth	1947
Position(s) with Trust	Trustee
Term of office1 and length of time served2	Since 1986
Principal occupation(s) during past five years	Chairman Emeritus (since 2011) and formerly Chairman, HLB Gross Collins, P.C. (accounting and consulting firm) (1974 to 2011); Executive Director of Business Builders Team, LLC (since 2005); Principal, Gross Consulting Group, LLC (since 2011); CEO, Gross Capital Advisors, LLC (since 2011); CEO, Trusted CFO Solutions, LLC (since 2011)
Number of funds in fund complex overseen by Trustee	55
Other board memberships held by Trustee during past five years	None
Richard E. Hanson, Jr.
Year of birth	1941
Position(s) with Trust	Trustee
Term of office1 and length of time served2	Since 1985
Principal occupation(s) during past five years	Retired; formerly Headmaster, The New Atlanta Jewish Community High School, Atlanta, Georgia (1996 to 2000)
Number of funds in fund complex overseen by Trustee	55
Other board memberships held by Trustee during past five years	None
Diana R. Harrington
Year of birth	1940
Position(s) with Trust	Trustee and Chair
Term of office1 and length of time served2	Since 1992 and since 2013
Principal occupation(s) during past five years	Babson Distinguished Professor of Finance, Babson College (since 1992)
Number of funds in fund complex overseen by Trustee	55
Other board memberships held by Trustee during past five years	None
Susan M. Heilbron
Year of birth	1945
Position(s) with Trust	Trustee
Term of office1 and length of time served2	Since 1994
Principal occupation(s) during past five years	Retired; formerly, President, Lacey & Heilbron (communications consulting) (1990 to 2002); formerly, General Counsel and Executive Vice President, The Trump Organization (1986 to 1990); formerly, Senior Vice President, New York State Urban Development Corporation (1984 to 1986); formerly, Associate, Cravath, Swaine & Moore (1980 to 1984) and (1977 to 1979)
Number of funds in fund complex overseen by Trustee	55
Other board memberships held by Trustee during past five years	Formerly, Director, Lincoln Savings Bank, FSB (1991 to 1994); formerly, Director, Trump Shuttle, Inc. (air transportation) (1989 to 1990); formerly, Director, Alexander’s Inc. (department store) (1987 to 1990)

Western Asset Intermediate Maturity New York Municipals Fund 41

Additional information (unaudited) (cont’d)

Information about Trustees and Officers

Independent Trustees cont’d
Susan B. Kerley
Year of birth	1951
Position(s) with Trust	Trustee
Term of office1 and length of time served2	Since 1992
Principal occupation(s) during past five years	Investment Consulting Partner, Strategic Management Advisors, LLC (investment consulting) (since 1990)
Number of funds in fund complex overseen by Trustee	55
Other board memberships held by Trustee during past five years	Director and Trustee (since 1990) and formerly, Chairman (2005 to 2012) of various series of MainStay Family of Funds (66 funds); Investment Company Institute (ICI) Board of Governors (since 2006); ICI Executive Committee (since 2011); Chairman of the Independent Directors Council (since 2012)
Alan G. Merten
Year of birth	1941
Position(s) with Trust	Trustee
Term of office1 and length of time served2	Since 1990
Principal occupation(s) during past five years	President Emeritus (since 2012) and formerly, President, George Mason University (1996 to 2012)
Number of funds in fund complex overseen by Trustee	55
Other board memberships held by Trustee during past five years	Director Emeritus (since 2012) and formerly, Director, Cardinal Financial Corporation (2006 to 2012); Trustee, First Potomac Realty Trust (since 2005); Director, DeVry Inc. (educational services) (since 2012); formerly, Director, Xybernaut Corporation (information technology) (2004 to 2006); formerly, Director, Digital Net Holdings, Inc. (2003 to 2004); formerly, Director, Comshare, Inc. (information technology) (1985 to 2003)
R. Richardson Pettit
Year of birth	1942
Position(s) with Trust	Trustee
Term of office1 and length of time served2	Since 1990
Principal occupation(s) during past five years	Retired; formerly, Duncan Professor of Finance, University of Houston (1977 to 2006); previous academic or management positions include: University of Washington, University of Pennsylvania and Purdue University
Number of funds in fund complex overseen by Trustee	55
Other board memberships held by Trustee during past five years	None

42 Western Asset Intermediate Maturity New York Municipals Fund

Interested Trustee and Officer:
Kenneth D. Fuller3
Year of birth	1958
Position(s) with Trust	Trustee, President, and Chief Executive Officer
Term of office1 and length of time served2	Since 2013
Principal occupation(s) during past five years	Managing Director of Legg Mason & Co., LLC (“Legg Mason & Co.”) (since 2013); Officer and/or Trustee/Director of 159 funds associated with Legg Mason Fund Advisor, LLC (“LMPFA”) or its affiliates (since 2013); President and Chief Executive Officer of LMPFA (since 2013); President and Chief Executive Officer of LM Asset Services, LLC (“LMAS”) and Legg Mason Fund Asset Management Inc. (“LMFAM”) (formerly registered investment advisers) (since 2013); formerly, Senior Vice President of LMPFA (2012 to 2013); formerly, Director of Legg Mason & Co. (2012 to 2013); formerly, Vice President of Legg Mason & Co. (2009 to 2012); formerly, Vice President — Equity Division of T. Rowe Price Associates (1993 to 2009), as well as Investment Analyst and Portfolio Manager for certain asset allocation accounts (2004 to 2009).
Number of funds in fund complex overseen by Trustee	149
Other board memberships held by Trustee during past five years	None
Additional Officers:
Ted P. Becker Legg Mason 620 Eighth Avenue, 49th Floor, New York, NY 10018
Year of birth	1951
Position(s) with Trust	Chief Compliance Officer
Term of office1 and length of time served2	Since 2007
Principal occupation(s) during past five years	Director of Global Compliance at Legg Mason (since 2006); Chief Compliance Officer of LMPFA (since 2006); Managing Director of Compliance of Legg Mason & Co. (since 2005); Chief Compliance Officer of certain mutual funds associated with Legg Mason & Co. or its affiliates (since 2006)

Western Asset Intermediate Maturity New York Municipals Fund 43

Additional information (unaudited) (cont’d)

Information about Trustees and Officers

Additional Officers cont’d
Susan Kerr Legg Mason 620 Eighth Avenue, 49th Floor, New York, NY 10018
Year of birth	1949
Position(s) with Trust	Chief Anti-Money Laundering Compliance Officer
Term of office1 and length of time served2	Since 2013
Principal occupation(s) during past five years	Assistant Vice President of Legg Mason & Co. and Legg Mason Investor Services, LLC (“LMIS”) (since 2010); Chief Anti-Money Laundering Compliance Officer of certain mutual funds associated with Legg Mason & Co. or its affiliates (since 2013) and Anti-Money Laundering Compliance Officer of LMIS (since 2012); Senior Compliance Officer of LMIS (since 2011); formerly, AML Consultant, DTCC (2010); formerly, AML Consultant, Rabobank Netherlands, (2009); formerly, First Vice President, Director of Marketing & Advertising Compliance and Manager of Communications Review Group at Citigroup Inc. (1996 to 2008)
Vanessa A. Williams Legg Mason 100 First Stamford Place, 6th Floor, Stamford, CT 06902
Year of birth	1979
Position(s) with Trust	Identity Theft Prevention Officer
Term of office1 and length of time served2	Since 2011
Principal occupation(s) during past five years	Vice President of Legg Mason & Co. (since 2012); Identity Theft Prevention Officer of certain mutual funds associated with Legg Mason & Co. or its affiliates (since 2011); formerly, Chief Anti-Money Laundering Compliance Officer of certain mutual funds associated with Legg Mason & Co. or its affiliates (2011 to 2013); formerly, Senior Compliance Officer of Legg Mason & Co. (2008 to 2011); formerly, Compliance Analyst of Legg Mason & Co. (2006 to 2008) and Legg Mason & Co. predecessors (prior to 2006)
Robert I. Frenkel Legg Mason 100 First Stamford Place, 6th Floor, Stamford, CT 06902
Year of birth	1954
Position(s) with Trust	Secretary and Chief Legal Officer
Term of office1 and length of time served2	Since 2007
Principal occupation(s) during past five years	Vice President and Deputy General Counsel of Legg Mason (since 2006); Managing Director and General Counsel of Global Mutual Funds for Legg Mason & Co. (since 2006) and Legg Mason & Co. predecessors (since 1994); Secretary and Chief Legal Officer of certain mutual funds associated with Legg Mason & Co. or its affiliates (since 2006) and Legg Mason & Co. predecessors (prior to 2006)

44 Western Asset Intermediate Maturity New York Municipals Fund

Additional Officers cont’d
Thomas C. Mandia Legg Mason 100 First Stamford Place, 6th Floor, Stamford, CT 06902
Year of birth	1962
Position(s) with Trust	Assistant Secretary
Term of office1 and length of time served2	Since 2007
Principal occupation(s) during past five years	Managing Director and Deputy General Counsel of Legg Mason & Co. (since 2005) and Legg Mason & Co. predecessors (prior to 2005); Secretary of LMPFA (since 2006); Assistant Secretary of certain mutual funds associated with Legg Mason & Co. or its affiliates (since 2006) and Legg Mason & Co. predecessors (prior to 2006); Secretary to LMAS (since 2002) and LMFAM (since 2013)
Richard F. Sennett Legg Mason 100 International Drive, 7th Floor, Baltimore, MD 21202
Year of birth	1970
Position(s) with Trust	Principal Financial Officer
Term of office1 and length of time served2	Since 2011
Principal occupation(s) during past five years	Principal Financial Officer and Treasurer of certain mutual funds associated with Legg Mason & Co. or its affiliates (since 2011 and since 2013); Managing Director of Legg Mason & Co. and Senior Manager of the Treasury Policy group for Legg Mason & Co.’s Global Fiduciary Platform (since 2011); formerly, Chief Accountant within the SEC’s Division of Investment Management (2007 to 2011); formerly, Assistant Chief Accountant within the SEC’s Division of Investment Management (2002 to 2007)
Steve Frank Legg Mason 620 Eighth Avenue, 49th Floor, New York, NY 10018
Year of birth	1967
Position(s) with Trust	Treasurer
Term of office1 and length of time served2	Since 2014
Principal occupation(s) during past five years	Vice President of Legg Mason & Co. and Legg Mason & Co. predecessors (since 2002); Treasurer of certain mutual funds associated with Legg Mason & Co. or its affiliates (since 2010); formerly, Controller of certain mutual funds associated with Legg Mason & Co. or its affiliates (prior to 2010)

Western Asset Intermediate Maturity New York Municipals Fund 45

Additional information (unaudited) (cont’d)

Information about Trustees and Officers

Additional Officers cont’d
Jeanne M. Kelly Legg Mason 620 Eighth Avenue, 49th Floor, New York, NY 10018
Year of birth	1951
Position(s) with Trust	Senior Vice President
Term of office1 and length of time served2	Since 2007
Principal occupation(s) during past five years	Senior Vice President of certain mutual funds associated with Legg Mason & Co. or its affiliates (since 2007); Senior Vice President of LMPFA (since 2006) and LMFAM (since 2013); Managing Director of Legg Mason & Co. (since 2005) and Legg Mason & Co. predecessors (prior to 2005)

† Trustees who are not “interested persons” of the Fund within the meaning of section 2(a)(19) of the 1940 Act.

¹  Each Trustee and officer serves until his or her respective successor has been duly elected and qualified or until his or her earlier death, resignation, retirement or removal.

²  Indicates the earliest year in which the Trustee became a board member for a fund in the Legg Mason fund complex or the officer took such office.

³  Mr. Fuller is an “interested person” of the Fund, as defined in the 1940 Act, because of his position with LMPFA and/or certain of its affiliates.

46 Western Asset Intermediate Maturity New York Municipals Fund

Important tax information (unaudited)

All of the net investment income distributions paid monthly by the Fund from December 2013 through October 2014 qualify as tax-exempt interest dividends for Federal income tax purposes. Additionally, 98.19% of the net investment income distribution paid in November 2014 qualifies as a tax-exempt interest dividend for Federal income tax purposes.

The following information is applicable to non-U.S. resident shareholders:

All of the ordinary income distributions paid by the Fund represent Qualified Net

Interest Income and Qualified Short-Term Gain eligible for exemption from U.S.

withholding tax for nonresident aliens and foreign corporations.

Please retain this information for your records.

Western Asset Intermediate Maturity New York Municipals Fund 47

Western Asset

Intermediate Maturity New York Municipals Fund

Trustees

Elliott J. Berv

Jane F. Dasher

Mark T. Finn

Kenneth D. Fuller

President

Stephen R. Gross

Richard E. Hanson, Jr.

Diana R. Harrington

Chair

Susan M. Heilbron

Susan B. Kerley

Alan G. Merten

R. Richardson Pettit

Investment manager

Legg Mason Partners Fund Advisor, LLC

Subadviser

Western Asset Management Company

Distributor

Legg Mason Investor Services, LLC

Custodian

State Street Bank and Trust Company

Transfer agents

BNY Mellon Investment Servicing (US) Inc.

4400 Computer Drive

Westborough, MA 01581

Independent registered public accounting firm

KPMG LLP

345 Park Avenue

New York, NY 10154

Western Asset Intermediate Maturity New York Municipals Fund

The Fund is a separate investment series of Legg Mason Partners Income Trust, a Maryland statutory trust.

Western Asset Intermediate Maturity New York Municipals Fund

Legg Mason Funds

620 Eighth Avenue, 49^th Floor

New York, NY 10018

The Fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission (“SEC”) for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms N-Q are available on the SEC’s website at www.sec.gov. The Fund’s Forms N-Q may be reviewed and copied at the SEC’s Public Reference Room in Washington, D.C., and information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330. To obtain information on Form N-Q, shareholders can call the Fund at 1-877-721-1926.

Information on how the Fund voted proxies relating to portfolio securities during the prior 12-month period ended June 30th of each year and a description of the policies and procedures that the Fund uses to determine how to vote proxies related to portfolio transactions are available (1) without charge, upon request, by calling the Fund at 1-877-721-1926. (2) on the Fund’s website at www.leggmason.com/individualinvestors and (3) on the SEC’s website at www.sec.gov.

This report is submitted for the general information of the shareholders of Western Asset Intermediate Maturity New York Municipals Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by a current prospectus.

Investors should consider the Fund’s investment objectives, risks, charges and expenses carefully before investing. The prospectus contains this and other important information about the Fund. Please read the prospectus carefully before investing.

www.leggmason.com/individualinvestors

© 2015 Legg Mason Investor Services, LLC

Member FINRA, SIPC

Legg Mason Funds Privacy and Security Notice

Your Privacy and the Security of Your Personal Information is Very Important to the Legg Mason Funds

This Privacy and Security Notice (the “Privacy Notice”) addresses the Legg Mason Funds’ privacy and data protection practices with respect to nonpublic personal information the Funds receive. The Legg Mason Funds include any funds sold by the Funds’ distributor, Legg Mason Investor Services, LLC, as well as Legg Mason-sponsored closed-end funds and certain closed-end funds managed or sub-advised by Legg Mason or its affiliates. The provisions of this Privacy Notice apply to your information both while you are a shareholder and after you are no longer invested with the Funds.

The Type of Nonpublic Personal Information the Funds Collect About You

The Funds collect and maintain nonpublic personal information about you in connection with your shareholder account. Such information may include, but is not limited to:

Ÿ Personal information included on applications or other forms;

Ÿ Account balances, transactions, and mutual fund holdings and positions;

Ÿ Online account access user IDs, passwords, security challenge question responses; and

Ÿ Information received from consumer reporting agencies regarding credit history and creditworthiness (such as the amount of an individual’s total debt, payment history, etc.).

How the Funds Use Nonpublic Personal Information About You

The Funds do not sell or share your nonpublic personal information with third parties or with affiliates for their marketing purposes, or with other financial institutions or affiliates for joint marketing purposes, unless you have authorized the Funds to do so. The Funds do not disclose any nonpublic personal information about you except as may be required to perform transactions or services you have authorized or as permitted or required by law. The Funds may disclose information about you to:

Ÿ Employees, agents, and affiliates on a “need to know” basis to enable the Funds to conduct ordinary business or comply with obligations to government regulators;

Ÿ Service providers, including the Funds’ affiliates, who assist the Funds as part of the ordinary course of business (such as printing, mailing services, or processing or servicing your account with us) or otherwise perform services on the Funds’ behalf, including companies that may perform marketing services solely for the Funds;

Ÿ The Funds’ representatives such as legal counsel, accountants and auditors; and

Ÿ Fiduciaries or representatives acting on your behalf, such as an IRA custodian or trustee of a grantor trust.

NOT PART OF THE ANNUAL REPORT

Legg Mason Funds Privacy and Security Notice (cont’d)

Except as otherwise permitted by applicable law, companies acting on the Funds’ behalf are contractually obligated to keep nonpublic personal information the Funds provide to them confidential and to use the information the Funds share only to provide the services the Funds ask them to perform.

The Funds may disclose nonpublic personal information about you when necessary to enforce their rights or protect against fraud, or as permitted or required by applicable law, such as in connection with a law enforcement or regulatory request, subpoena, or similar legal process. In the event of a corporate action or in the event a Fund service provider changes, the Funds may be required to disclose your nonpublic personal information to third parties. While it is the Funds’ practice to obtain protections for disclosed information in these types of transactions, the Funds cannot guarantee their privacy policy will remain unchanged.

Keeping You Informed of the Funds’ Privacy and Security Practices

The Funds will notify you annually of their privacy policy as required by federal law. While the Funds reserve the right to modify this policy at any time they will notify you promptly if this privacy policy changes.

The Funds’ Security Practices

The Funds maintain appropriate physical, electronic and procedural safeguards designed to guard your nonpublic personal information. The Funds’ internal data security policies restrict access to your nonpublic personal information to authorized employees, who may use your nonpublic personal information for Fund business purposes only.

Although the Funds strive to protect your nonpublic personal information, they cannot ensure or warrant the security of any information you provide or transmit to them, and you do so at your own risk. In the event of a breach of the confidentiality or security of your nonpublic personal information, the Funds will attempt to notify you as necessary so you can take appropriate protective steps. If you have consented to the Funds using electronic communications or electronic delivery of statements, they may notify you under such circumstances using the most current email address you have on record with them.

In order for the Funds to provide effective service to you, keeping your account information accurate is very important. If you believe that your account information is incomplete, not accurate or not current, or if you have questions about the Funds’ privacy practices, write the Funds using the contact information on your account statements, email the Funds by clicking on the Contact Us section of the Funds’ website at www.leggmason.com, or contact the Fund at 1-877-721-1926.

Revised April 2011

NOT PART OF THE ANNUAL REPORT

www.leggmason.com/individualinvestors

© 2015 Legg Mason Investor Services, LLC Member FINRA, SIPC

FD0311 1/15 SR15-2383

ITEM 2. CODE OF ETHICS.

The registrant has adopted a code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller.

ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.

The Board of Trustees of the registrant has determined that Stephen R. Gross and Jane F. Dasher, possess the technical attributes identified in Instruction 2(b) of Item 3 to Form N-CSR to qualify as “audit committee financial experts,” and have designated Mr. Gross and Ms. Dasher as the Audit Committee’s financial experts. Mr. Gross and Ms. Dasher are “independent” Trustees pursuant to paragraph (a) (2) of Item 3 to Form N-CSR.

ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

a) Audit Fees. The aggregate fees billed in the last two fiscal years ending November 30, 2013 and November 30, 2014 (the “Reporting Periods”) for professional services rendered by the Registrant’s principal accountant (the “Auditor”) for the audit of the Registrant’s annual financial statements, or services that are normally provided by the Auditor in connection with the statutory and regulatory filings or engagements for the Reporting Periods, were $92,224 in 2013 and $54,227 in 2014.

b) Audit-Related Fees. The aggregate fees billed in the Reporting Period for assurance and related services by the Auditor that are reasonably related to the performance of the Registrant’s financial statements were $0 in 2013 and $0 in 2014.

(c) Tax Fees. The aggregate fees billed in the Reporting Periods for professional services rendered by the Auditor for tax compliance, tax advice and tax planning (“Tax Services”) were $19,700 in 2013 and $3,480 in 2014. These services consisted of (i) review or preparation of U.S. federal, state, local and excise tax returns; (ii) U.S. federal, state and local tax planning, advice and assistance regarding statutory, regulatory or administrative developments, and (iii) tax advice regarding tax qualification matters and/or treatment of various financial instruments held or proposed to be acquired or held.

There were no fees billed for tax services by the Auditors to service affiliates during the Reporting Periods that required pre-approval by the Audit Committee.

d) All Other Fees. There were no other fees billed in the Reporting Periods for products and services provided by the Auditor, other than the services reported in paragraphs (a) through (c) for the Item 4 for the Legg Mason Partners Income Trust.

All Other Fees. There were no other non-audit services rendered by the Auditor to Legg Mason Partners Fund Advisors, LLC (“LMPFA”), and any entity controlling, controlled by or under common control with LMPFA that provided ongoing services to Legg Mason Partners Income Trust requiring pre-approval by the Audit Committee in the Reporting Period.

(e) Audit Committee’s pre–approval policies and procedures described in paragraph (c) (7) of Rule 2-01 of
Regulation S-X.

(1) The Charter for the Audit Committee (the “Committee”) of the Board of each registered investment company (the “Fund”) advised by LMPFA or one of their affiliates (each, an “Adviser”) requires that the Committee shall approve (a) all audit and permissible non-audit

services to be provided to the Fund and (b) all permissible non-audit services to be provided by the Fund’s independent auditors to the Adviser and any Covered Service Providers if the engagement relates directly to the operations and financial reporting of the Fund. The Committee may implement policies and procedures by which such services are approved other than by the full Committee.

The Committee shall not approve non-audit services that the Committee believes may impair the independence of the auditors. As of the date of the approval of this Audit Committee Charter, permissible non-audit services include any professional services (including tax services), that are not prohibited services as described below, provided to the Fund by the independent auditors, other than those provided to the Fund in connection with an audit or a review of the financial statements of the Fund. Permissible non-audit services may not include: (i) bookkeeping or other services related to the accounting records or financial statements of the Fund; (ii) financial information systems design and implementation; (iii) appraisal or valuation services, fairness opinions or contribution-in-kind reports; (iv) actuarial services; (v) internal audit outsourcing services; (vi) management functions or human resources; (vii) broker or dealer, investment adviser or investment banking services; (viii) legal services and expert services unrelated to the audit; and (ix) any other service the Public Company Accounting Oversight Board determines, by regulation, is impermissible.

Pre-approval by the Committee of any permissible non-audit services is not required so long as: (i) the aggregate amount of all such permissible non-audit services provided to the Fund, the Adviser and any service providers controlling, controlled by or under common control with the Adviser that provide ongoing services to the Fund (“Covered Service Providers”) constitutes not more than 5% of the total amount of revenues paid to the independent auditors during the fiscal year in which the permissible non-audit services are provided to (a) the Fund, (b) the Adviser and (c) any entity controlling, controlled by or under common control with the Adviser that provides ongoing services to the Fund during the fiscal year in which the services are provided that would have to be approved by the Committee; (ii) the permissible non-audit services were not recognized by the Fund at the time of the engagement to be non-audit services; and (iii) such services are promptly brought to the attention of the Committee and approved by the Committee (or its delegate(s)) prior to the completion of the audit.

(2) For the Legg Mason Partners Income Trust, the percentage of fees that were approved by the audit committee, with respect to: Audit-Related Fees were 100% and 100% for 2013 and 2014; Tax Fees were 100% and 100% for 2013 and 2014; and Other Fees were 100% and 100% for 2013 and 2014.

(f) N/A

(g) Non-audit fees billed by the Auditor for services rendered to Legg Mason Partners Income Trust, LMPFA and any entity controlling, controlled by, or under common control with LMPFA that provides ongoing services to Legg Mason Partners Income Trust during the reporting period were $0 in 2014.

(h) Yes. Legg Mason Partners Income Trust’s Audit Committee has considered whether the provision of non-audit services that were rendered to Service Affiliates, which were not pre-approved (not requiring pre-approval), is compatible with maintaining the Accountant’s independence. All services provided by the Auditor to the Legg Mason Partners Income Trust or to Service Affiliates, which were required to be pre-approved, were pre-approved as required.

ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.

a) The independent board members are acting as the registrant’s audit committee as specified in Section 3(a)(58)(B) of the Exchange Act. The Audit Committee consists of the following Board members:

Elliott J. Berv

Jane F. Dasher

Mark T. Finn

Stephen R. Gross

Richard E. Hanson, Jr.

Diana R. Harrington

Susan M. Heilbron

Susan B. Kerley

Alan G. Merten

R. Richardson Pettit

b) Not applicable

ITEM 6. SCHEDULE OF INVESTMENTS.

Included herein under Item 1.

ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 8. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 9. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.

Not applicable.

ITEM 10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

Not applicable.

ITEM 11. CONTROLS AND PROCEDURES.

(a) The registrant’s principal executive officer and principal financial officer have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a- 3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)) are effective as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the disclosure controls and procedures required by Rule 30a-3(b) under the 1940 Act and 15d-15(b) under the Securities Exchange Act of 1934.

(b) There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the second fiscal quarter of the period covered by this report that have materially affected, or are likely to materially affect the registrant’s internal control over financial reporting.

ITEM 12. EXHIBITS.

(a) (1) Code of Ethics attached hereto.

Exhibit 99.CODE ETH

(a) (2) Certifications pursuant to section 302 of the Sarbanes-Oxley Act of 2002 attached hereto.

Exhibit 99.CERT

(b) Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 attached hereto.

Exhibit 99.906CERT

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this Report to be signed on its behalf by the undersigned, there unto duly authorized.

Legg Mason Partners Income Trust
By:	/s/ Kenneth D. Fuller
	Kenneth D. Fuller
	Chief Executive Officer
Date:	January 23, 2015

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By:	/s/ Kenneth D. Fuller
	Kenneth D. Fuller
	Chief Executive Officer
Date:	January 23, 2015
By:	/s/ Richard F. Sennett
	Richard F. Sennett
	Principal Financial Officer
Date:	January 23, 2015