UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF

REGISTERED MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number 811-4841

MFS MUNICIPAL INCOME TRUST

(Exact name of registrant as specified in charter)

500 Boylston Street, Boston, Massachusetts 02116

(Address of principal executive offices) (Zip code)

Susan S. Newton

Massachusetts Financial Services Company

500 Boylston Street

Boston, Massachusetts 02116

(Name and address of agents for service)

Registrant’s telephone number, including area code: (617) 954-5000

Date of fiscal year end: October 31

Date of reporting period: January 31, 2006

ITEM 1. SCHEDULE OF INVESTMENTS.

MFS Municipal Income Trust
PORTFOLIO OF INVESTMENTS (Unaudited) 01/31/2006
Issuer	Shares/Par		Value ($)
Municipal Bonds – 140.8%
Airport & Port Revenue – 5.1%
Chicago, IL, O'Hare International Airport Rev., RITES, FSA, 7.634%, 2022 (r)(v)	$ 1,500,000	$	1,788,990
Chicago, IL, O'Hare International Airport Rev., Third Lien, "A", FGIC, 5%, 2033	345,000		356,426
Chicago, IL, O'Hare International Airport Rev., Third Lien, "A", MBIA, 5%, 2029	1,385,000		1,440,954
New York City, NY, City Industrial Development Agency, Special Facilities Rev.
(Terminal One Group), 5.5%, 2024	275,000		291,143
Oklahoma City, OK, Airport Trust Rev., FSA, 5.75%, 2016	3,125,000		3,334,906
Port Authority, NY, Special Obligations Rev. (JFK International), MBIA, 5.75%, 2022	7,000,000		7,385,700
Seattle, WA, Airport Trust Rev., FGIC, 5.625%, 2018	1,500,000		1,608,960
		$	16,207,079
Chemicals – 0.6%
Red River Authority, TX, Pollution Control Rev. (Celanese Project), 6.7%, 2030	$ 1,920,000	$	2,035,469
General Obligations - General Purpose – 2.1%
Huntsville, AL, Capital Improvement Warrants, "C", MBIA, 5%, 2024	$ 275,000	$	288,962
Kane Kendall County, IL, Capital Appreciation, "E", FGIC, 0%, 2023	1,945,000		811,979
Kane Kendall County, IL, Capital Appreciation, "E", FGIC, 0%, 2025	1,915,000		711,748
Lake County, IL, Land Acquisition & Development, 5.75%, 2017	1,000,000		1,090,020
New York City, NY, "M", 5%, 2035	3,800,000		3,906,628
		$	6,809,337
General Obligations - Schools – 1.0%
Aledo, TX, Independent School District, School Building, "A", PSF, 5.125%, 2033	$ 955,000	$	995,291
De Soto, TX, Independent School District, School Building, PSF, 0%, 2031	555,000		145,959
De Soto, TX, Independent School District, School Building, PSF, 0%, 2034	415,000		92,001
De Soto, TX, Independent School District, School Building, PSF, 0%, 2036	555,000		110,706
Leander, TX, Independent School District, Capital Appreciation, Refunding, School
Building, FGIC, 0%, 2026	1,285,000		444,199
Leander, TX, Independent School District, Capital Appreciation, Refunding, School
Building, FGIC, 0%, 2031	1,295,000		330,108
Royse City, TX, Independent School District, School Building, PSF, 0%, 2027	955,000		318,168
Royse City, TX, Independent School District, School Building, PSF, 0%, 2028	960,000		301,258
Royse City, TX, Independent School District, School Building, PSF, 0%, 2029	965,000		285,679
		$	3,023,369
Healthcare Revenue - Hospitals – 39.3%
Allegheny County, PA, Hospital Development Authority Rev. (South Hills Health
Systems), "B", 6.75%, 2025	$ 500,000	$	527,765
Allegheny County, PA, Hospital Development Authority Rev. (West Penn Allegheny
Health), 9.25%, 2030	2,000,000		2,357,480
Allegheny County, PA, Hospital Development Authority Rev. (West Penn Allegheny
Health), "B", 9.25%, 2022	1,000,000		1,183,510
Arkansas Development Finance Authority Rev. (Washington Regional Medical
Center), 7.25%, 2010 (c)	500,000		568,730
Athens County, OH, Hospital Facilities Rev. (O'Bleness Memorial Hospital), "A",
7.125%, 2033	1,500,000		1,558,170
Baldwin County, AL, Eastern Shore Health Care Authority Rev. (Thomas Hospital),
5.75%, 2008 (c)	700,000		747,131
Birmingham, AL, Baptist Medical Center, Special Care Facilities Rev. (Baptist Health
Systems Inc.), "A", 5%, 2030	490,000		473,747
Brookhaven, NY, Civic Facilities Rev. (Memorial Hospital Medical Center, Inc.),
7.75%, 2010	695,000		739,973
California Valley Health Systems, COP, 6.875%, 2023	740,000		742,146
Chautauqua County, NY, Industrial Development Agency, Civic Facilities Rev.
(Women's Christian Assn.), "A", 6.35%, 2017	235,000		239,735
Chautauqua County, NY, Industrial Development Agency, Civic Facilities Rev.
(Women's Christian Assn.), "A", 6.4%, 2029	980,000		979,628
			1

MFS Municipal Income Trust
PORTFOLIO OF INVESTMENTS (Unaudited) 01/31/2006 - continued
Issuer		Shares/Par		Value ($)
Municipal Bonds – continued
Healthcare Revenue - Hospitals – continued
Chemung County, NY, Civic Facilities Rev. (St. Joseph's Hospital-Elmira),
"A", 6%, 2013	$	490,000	$	492,112
Chemung County, NY, Civic Facilities Rev. (St. Joseph's Hospital-Elmira), "B",
6.35%, 2013		120,000		123,239
Chester County, PA, Health & Educational Facilities Rev. (Chester County Hospital),
6.75%, 2021		1,625,000		1,778,790
Citrus County, FL, Hospital Development Authority Rev. (Citrus Memorial Hospital),
6.25%, 2023		955,000		1,021,812
Coffee County, GA, Hospital Authority Rev. (Coffee Regional Medical Center, Inc.),
5%, 2026		40,000		39,997
Colorado Health Facilities Authority Rev. (Parkview Medical Center), 6.5%, 2020		1,230,000		1,354,562
Colorado Health Facilities Authority Rev. (Parkview Medical Center), 6.6%, 2025		1,000,000		1,097,370
Colorado Health Facilities Authority Rev. (Portercare Adventist Health Systems),
6.625%, 2011 (c)		675,000		785,808
Crittenden County, AR, Hospital Rev., 7%, 2020		1,030,000		1,034,687
Cuyahoga County, OH, Hospital Facilities Rev. (Canton, Inc.), 7.5%, 2030		1,330,000		1,476,912
Delaware Health Facilities Authority Rev. (Nanticoke Memorial Hospital),
5.625%, 2032		1,250,000		1,318,763
Denver, CO, Health & Hospital Authority Rev., 5.25%, 2013		635,000		647,954
Denver, CO, Health & Hospital Authority Rev., 5.375%, 2018		1,500,000		1,533,930
Denver, CO, Health & Hospital Authority Rev., 5.375%, 2028		860,000		863,913
Denver, CO, Health & Hospital Authority Rev., "A", 6%, 2023		250,000		266,120
District of Columbia, Health & Hospital Authority Rev. (Medstar University Hospital),
"D", 6.875%, 2007 (c)		1,200,000		1,244,316
Gaylord, MI, Hospital Finance Authority Rev. (Otsego Memorial Hospital), 6.2%, 2025		250,000		247,435
Gaylord, MI, Hospital Finance Authority Rev. (Otsego Memorial Hospital), 6.5%, 2031		295,000		295,227
Grand Forks, ND, Health Care Authority Rev. (Altru Health Systems Obligated Group),
7.125%, 2024		755,000		839,318
Gulfport, MS, Hospital Facilities Rev. (Memorial Hospital), 5.75%, 2031		1,000,000		1,026,550
Highlands County, FL, Health Facilities Authority Rev. (Adventist/Sunbelt Hospital),
6%, 2031		900,000		972,576
Houston County, AL, Health Care Authority Rev., AMBAC, 6.25%, 2030		2,000,000		2,205,680
Huntsville, AL, Health Care Authority Rev., 5.625%, 2026		875,000		915,390
Illinois Development Finance Authority, Hospital Authority Rev. (Adventist/Sunbelt
Hospital), 5.65%, 2009 (c)		1,750,000		1,898,138
Illinois Health Facilities Authority Rev. (Centegra Heath Systems), 5.25%, 2018		1,000,000		1,018,260
Indiana Health Facilities Financing Authority, Hospital Rev. (Clarian Health),
"A", 5%, 2039		1,110,000		1,101,109
Indiana Health Facilities Financing Authority, Hospital Rev. (Community Hospital), "A",
AMBAC, 5%, 2035		1,780,000		1,839,772
Indiana Health Facilities Financing Authority, Hospital Rev. (Munster Medical
Research Foundation, Inc.), 6.375%, 2031		3,990,000		4,215,435
Indiana Health Facilities Financing Authority, Hospital Rev. (Riverview Hospital),
6.125%, 2031		1,000,000		1,047,960
Johnson City, TN, Health & Educational Facilities, Hospital Rev. (Mountain States
Health), "A", 5.5%, 2036		280,000		290,550
Joplin, MO, Industrial Development Authority Health Facilities Rev. (Freeman Health
Systems), 5.5%, 2029		440,000		456,962
Joplin, MO, Industrial Development Authority Health Facilities Rev. (Freeman Health
Systems), 5.75%, 2035		475,000		506,583
Kentucky Economic Development Finance Authority, Health Systems Rev. (Norton
Healthcare, Inc.), 6.5%, 2020		5,000,000		5,463,150
Knox County, TN, Health Educational Housing Facilities Board, Hospital Facilities Rev.
(Baptist Health Systems), 6.5%, 2031		1,725,000		1,831,950
				2

MFS Municipal Income Trust
PORTFOLIO OF INVESTMENTS (Unaudited) 01/31/2006 - continued
Issuer		Shares/Par		Value ($)
Municipal Bonds – continued
Healthcare Revenue - Hospitals – continued
Lauderdale County & Florence, AL, Health Care Authority Rev. (Coffee Health Group),
MBIA, 5.625%, 2021	$	3,000,000	$	3,253,260
Lufkin, TX, Health Facilities Rev. (Memorial Health System of East Texas),
6.875%, 2006 (c)		1,565,000		1,598,178
Lufkin, TX, Health Facilities Rev. (Memorial Health System of East Texas),
5.7%, 2008   (c)		995,000		1,056,332
Macomb County, MI, Hospital Finance Authority Rev. (Mount Clemens General
Hospital), 5.75%, 2025		1,000,000		984,840
Macomb County, MI, Hospital Finance Authority Rev. (Mount Clemens General
Hospital), 5.875%, 2034		905,000		889,669
Maryland Health & Higher Educational Facilities Authority Rev. (Medstar Health),
5.5%, 2033		380,000		392,259
Maryland Health & Higher Educational Facilities Authority Rev. (North Arundel
Hospital), 6.5%, 2010 (c)		1,500,000		1,696,590
Massachusetts Health & Educational Facilities Authority Rev. (Berkshire Health
Systems), 6.25%, 2031		1,900,000		2,021,372
Massachusetts Health & Educational Facilities Authority Rev. (Caritas Christi),
6.5%,  2012		600,000		654,306
Massachusetts Health & Educational Facilities Authority Rev. (Caritas Christi),
5.7%, 2015		500,000		517,525
Massachusetts Health & Educational Facilities Authority Rev. (Jordan Hospital),
5.25%, 2018		1,400,000		1,403,864
Massachusetts Health & Educational Facilities Authority Rev. (Northern Berkshire
Health), "B", 6.375%, 2034		640,000		661,286
Massachusetts Health & Educational Facilities Authority Rev. (Saints Memorial
Medical Center), 6%, 2023		465,000		466,102
Miami Beach, FL, Health Facilities Rev. (Mount Sinai Medical Center), 6.75%, 2029		810,000		893,714
Miami Beach, FL, Health Facilities Rev. (Mount Sinai Medical Center), "A", 6.7%, 2019		995,000		1,084,988
Mississippi Business Finance Corp., Health Facilities Rev. (Rush Medical Foundation,
Inc.), 5.625%, 2023		845,000		840,522
Mississippi Hospital Equipment, Health Facilities Rev. (Rush Medical Foundation,
Inc.), 5.4%, 2007		105,000		105,942
Monroe County, NY, Industrial Development Agency, Civic Facilities Rev. (Highland
Hospital of Rochester), 5%, 2025		65,000		65,489
Montgomery, AL, Special Care Facilities, Financing Authority Rev. (Baptist Health), "A-
2", MBIA, 0% to 2007, 5% to 2014 (c)		1,725,000		1,707,284
Montgomery, AL, Special Care Facilities, Financing Authority Rev. (Baptist Health),
"C", 5.25%, 2014 (c)		760,000		839,808
Mount Lebanon, PA, Hospital Authority Rev. (St. Clair Memorial Hospital),
5.625%, 2032		435,000		454,340
Nassau County, NY, Industrial Development Agency, Civic Facilities Rev. (North
Shore Health System), 5.625%, 2010		620,000		645,290
Nassau County, NY, Industrial Development Agency, Civic Facilities Rev. (North
Shore Health System), 5.875%, 2011		485,000		513,843
New Hampshire Health & Educational Facilities Authority Rev. (Covenant Health),
6.5%, 2017		870,000		979,089
New Hampshire Higher Educational & Health Facilities Authority Rev. (Catholic
Medical Center), 6.125%, 2032		1,000,000		1,040,940
New Jersey Health Care Facilities, Financing Authority Rev. (Children's Specialized
Hospital), "A", 5.5%, 2030		245,000		254,043
New Jersey Health Care Facilities, Financing Authority Rev. (St. Peter's University
Hospital), 6.875%, 2030		3,000,000		3,284,550
New York City, NY, Health & Hospital Corp. Rev., "A", 5.25%, 2017		700,000		730,961
New York City, NY, Industrial Development Agency, Civic Facilities Rev. (Staten
Island University Hospital), "A", 6.375%, 2031		500,000		509,375
				3

MFS Municipal Income Trust
PORTFOLIO OF INVESTMENTS (Unaudited) 01/31/2006 - continued
Issuer		Shares/Par		Value ($)
Municipal Bonds – continued
Healthcare Revenue - Hospitals – continued
New York State Dormitory Authority Rev., Non State Supported Debt (Mt. Sinai NYU
Health), 5.5%, 2026	$	635,000	$	645,700
New York State Dormitory Authority Rev., Non State Supported Debt (Mt. Sinai NYU
Health), "C", 5.5%, 2026		500,000		508,425
Norman, OK, Regional Hospital Authority Rev., 5.375%, 2036		490,000		487,658
North Texas Health Facilities Development Corp. Rev. (United Regional Health Care
System, Inc.), 6%, 2023		1,000,000		1,078,070
Ohio County, WV, County Commission Health System Rev. (Ohio Valley Medical
Center), 5.75%, 2013		850,000		814,147
Oklahoma Development Finance Authority Rev. (Comanche County Hospital), 6.6%,
2031		1,665,000		1,818,446
Rhode Island Health & Education Building Rev., Hospital Financing (Lifespan
Obligated Group), 6.375%, 2021		1,805,000		2,001,167
Rhode Island Health & Education Building Rev., Hospital Financing (Lifespan
Obligated Group), 6.5%, 2032		505,000		558,005
Royston, GA, Hospital Authority Rev. (Ty Cobb Healthcare Systems, Inc.),
6.375%, 2014		955,000		944,294
Salt Lake City, UT, Hospital Authority Rev. INFLOS, AMBAC, ETM (Intermountain
Health Care), 10.022%, 2020 (c)(v)		600,000		602,496
Shelby County, TN, Educational & Hospital Facilities Board Hospital Rev. (Methodist
Healthcare), 6.375%, 2012 (c)		625,000		721,800
Shelby County, TN, Educational & Housing Facilities Board Hospital Rev. (Methodist
Healthcare), 6.25%, 2012 (c)		315,000		361,507
Shelby County, TN, Educational & Housing Facilities Board Hospital Rev. (Methodist
Healthcare), 6.25%, 2018 (c)		185,000		212,313
Shelby County, TN, Educational & Housing Facilities Board Hospital Rev. (Methodist
Healthcare), 6.375%, 2019 (c)		375,000		433,080
South Carolina Jobs & Economic Development Authority Rev. (Bon Secours Health
Systems, Inc.), "A", 5.625%, 2030		710,000		736,029
South Carolina Jobs & Economic Development Authority, Hospital Facilities Rev.
(Palmetto Health Alliance), 6.25%, 2031		835,000		903,361
South Carolina Medical University, Hospital Facilities Rev., "A", MBIA, 5%, 2031		685,000		705,118
South Dakota Health & Education Facilities Authority Rev. (Prairie Lakes Health Care
System), 5.625%, 2032		670,000		690,830
Southwestern Illinois Development Authority Rev. (Anderson Hospital), 5.5%, 2020		60,000		62,531
Southwestern Illinois Development Authority Rev. (Anderson Hospital), 5.625%, 2029		870,000		894,412
Springfield, TN, Health & Educational Facilities Rev. (Northcrest Medical Center),
5.25%, 2018		1,400,000		1,398,726
Steubenville, OH, Hospital Authority Rev. (Trinity Health Center), 6.5%, 2030		1,300,000		1,424,137
Stillwater, OK, Medical Center Authority, 5.625%, 2023		1,000,000		1,055,450
Tallahassee, FL, Health Facilities Rev. (Tallahassee Memorial Healthcare),
6.25%, 2020		3,085,000		3,280,928
Texas Metro Health Facilities Development Corp., Metro Health Facilities
Development Rev. (Wilson N. Jones Memorial Hospital), 7.2%, 2021		700,000		717,626
Texas Metro Health Facilities Development Corp., Metro Health Facilities
Development Rev. (Wilson N. Jones Memorial Hospital), 7.25%, 2031		1,000,000		1,022,210
Tom Green County, TX, Health Facilities Rev. (Shannon Health System), 6.75%, 2021		1,250,000		1,348,938
Upper Illinois River Valley Development, Health Facilities Rev. (Morris Hospital),
6.625%, 2031		600,000		653,532
Valley, AL, Special Care Facilities, Financing Authority Rev. (Lanier Memorial
Hospital), 5.6%, 2016		600,000		601,344
Wapello County, IA, Hospital Authority Rev. (Ottumwa Regional Health Center),
6.375%, 2031		1,500,000		1,581,630
Washington County, AR, Hospital Rev., Regional Medical Center, "A", 5%, 2035		250,000		247,730
Washington County, AR, Hospital Rev., Regional Medical Center, "B", 5%, 2025		1,000,000		1,010,830
				4

MFS Municipal Income Trust
PORTFOLIO OF INVESTMENTS (Unaudited) 01/31/2006 - continued
Issuer		Shares/Par		Value ($)
Municipal Bonds – continued
Healthcare Revenue - Hospitals – continued
Weirton, WV, Municipal Hospital Building, Commission Rev. (Weirton Hospital Medical
Center), 6.375%, 2031	$	1,115,000	$	1,122,682
Weslaco, TX, Health Facilities Rev. (Knapp Medical Center), 6.25%, 2032		1,000,000		1,060,340
West Plains, MO, Industrial Development Authority Rev. (Ozarks Medical Center),
6.75%, 2024		170,000		175,216
West Shore Pennsylvania, Hospital Authority Rev. (Holy Spirit Hospital), 6.2%, 2026		1,250,000		1,335,100
Wichita, KS, Hospital Authority Rev. (Via Christi Health System), 6.25%, 2020		1,500,000		1,668,120
Wisconsin Health & Educational Facilities Authority Rev. (Aurora Health Care, Inc.),
6.875%, 2030		1,000,000		1,145,920
Wisconsin Health & Educational Facilities Authority Rev. (Aurora Health Care, Inc.),
MBIA, 5.25%, 2017		5,000,000		5,218,150
Wisconsin Health & Educational Facilities Authority Rev. (Marshfield Clinic), "A",
5.375%, 2034		490,000		503,568
Yonkers, NY, Industrial Development Agency, Civic Facilities Rev. (St. John's
Riverside Hospital), 6.8%, 2016		710,000		736,128
Yonkers, NY, Industrial Development Agency, Civic Facilities Rev. (St. John's
Riverside Hospital), "A", 7.125%, 2031		490,000		505,102
Yonkers, NY, Industrial Development Agency, Civic Facilities Rev. (St. Joseph's
Hospital), "C", 6.2%, 2020		750,000		665,370
			$	124,574,272
Healthcare Revenue - Long Term Care – 11.9%
Abilene, TX, Health Facilities Development Co., Retirement Facilities Rev. (Sears
Methodist Retirement), "A", 7%, 2033	$	345,000	$	371,268
Arizona Health Facilities Authority Rev. (The Terraces Project), 7.75%, 2033 (r)		750,000		827,513
Bell County, TX, Health Facilities Development Rev. (Advanced Living Technology),
7.75%, 2006		65,000		64,353
Bell County, TX, Health Facilities Development Rev. (Advanced Living Technology),
8.125%, 2016		1,085,000		1,012,164
Bell County, TX, Health Facilities Development Rev. (Advanced Living Technology),
8.5%, 2026		2,405,000		2,193,985
Bridgeport, CT, Senior Living Facility Rev. (3030 Park Retirement Community),
7.25%, 2035 (r)(d)		1,020,000		870,335
Bucks County, PA, Industrial Development Authority Rev. (Ann's Choice, Inc.),
6.125%, 2025		430,000		442,616
Cambria County, PA, Industrial Development Authority Rev. (Beverly Enterprises,
Inc.), 10%, 2012		400,000		454,724
Chester County, PA, Industrial Development Authority Rev. (RHA Nursing Home),
8.5%, 2032		595,000		617,122
Clarion, PA, Industrial Development Authority Rev. (Beverly Enterprises, Inc.),
7.5%, 2012		1,000,000		1,017,590
Colorado Health Facilities Authority Rev. (Covenant Retirement Communities, Inc.),
"B", 6.125%, 2033		1,000,000		1,073,160
Colorado Health Facilities Authority Rev. (Evangelical Lutheran), 6.9%, 2025		3,000,000		3,402,330
Contra Costa County, CA, Residential Rental Facilities Rev. (Cypress Meadows),
7%, 2028 (r)(d)		217,707		65,312
Cumberland County, PA, Municipal Authority Rev. (Wesley), "A", 7.25%, 2013 (c)		720,000		875,743
Cumberland County, PA, Municipal Authority Rev. (Wesley), "A", 7.25%, 2035		280,000		299,424
Franklin County, OH, Healthcare Facilities Rev. (Ohio Presbyterian), 7.125%, 2029		1,000,000		1,095,310
Fulton County, GA, Residential Care Facilities (Canterbury Court), "A", 6.125%, 2034		330,000		333,848
Greenville County, SC, Hospital Rev. (Chestnut Hill), "A", 8%, 2015		2,125,000		2,131,779
Hawaii Department of Budget & Finance, Special Purpose Rev. (Kahala Nui Senior
Living Community), 8%, 2033		500,000		578,340
Illinois Finance Authority Rev. (Clare at Water Tower), "A", 6%, 2025		490,000		490,960
Illinois Finance Authority Rev. (Landing at Plymouth Place), "A", 6%, 2037		490,000		489,020
				5

MFS Municipal Income Trust
PORTFOLIO OF INVESTMENTS (Unaudited) 01/31/2006 - continued
Issuer			Shares/Par		Value ($)
Municipal Bonds – continued
Healthcare Revenue - Long Term Care – continued
Iowa Finance Authority, Health Care Facilities Rev. (Care Initiatives Project),
5.75%, 2018		$	895,000	$	889,567
Iowa Finance Authority, Health Care Facilities Rev. (Care Initiatives Project),
9.25%, 2025			1,645,000		1,968,999
Lenexa, KS, Health Care Facilities Rev. (Lakeview Village, Inc.), 6.875%, 2032			500,000		538,775
Lenexa, KS, Health Care Facilities Rev. (Lakeview Village, Inc.), "B", 6.25%, 2026			500,000		510,170
Maine Health & Higher Educational Facilities Rev. (Piper Shores), 7.5%, 2009 (c)			800,000		876,608
Millbrae, CA, Residential Facilities Rev. (Magnolia of Millbrae), "A", 7.375%, 2027			1,880,000		1,965,258
Montgomery County, PA, Higher Education & Health Authority Rev.
(AHF/Montgomery), 10.5%, 2020			2,175,000		2,178,611
Montgomery County, PA, Industrial Development Authority Rev. (Whitemarsh
Continuing Care), 6.125%, 2028			250,000		261,973
Montgomery County, PA, Industrial Development Authority Rev. (Whitemarsh
Continuing Care), 6.25%, 2035			510,000		535,209
New Jersey Economic Development Authority Rev. (Courthouse Convalescent
Center), "A", 8.7%, 2014			650,000		652,490
New Jersey Economic Development Authority Rev. (Lions Gate), "A", 5.875%, 2037			310,000		314,625
New Jersey Health Care Facilities Financing Authority Rev. (Cherry Hill), 8%, 2027			1,000,000		1,035,080
Norfolk, VA, Redevelopment & Housing Authority Rev. (Fort Norfolk Retirement
Community), "A", 6%, 2025			125,000		127,956
Norfolk, VA, Redevelopment & Housing Authority Rev. (Fort Norfolk Retirement
Community), "A", 6.125%, 2035			90,000		92,021
Reedley, CA, COP (Mennonite Home), 7.5%, 2006 (c)			2,705,000		2,832,378
Shelby County, TN, Health Educational Rev. (Germantown Village), 7.25%, 2034			820,000		845,978
Sterling, IL (Hoosier Care), 7.125%, 2034			710,000		652,952
Suffolk County, NY, Industrial Development Agency (Medford Hamlet Assisted Living),
6.375%, 2039			500,000		499,745
Travis County, TX, Health Facilities Development Corp., Retirement Facilities Rev.
(Querencia Barton Creek), 5.5%, 2025			220,000		215,015
Travis County, TX, Health Facilities Development Corp., Retirement Facilities Rev.
(Querencia Barton Creek), 5.65%, 2035			310,000		300,499
Washington County, FL, Industrial Development Authority Rev. (Washington County),
10%, 2016			860,000		863,655
Wilkinsburg, PA, Municipal Authority Health Rev. (Monroeville Christian/Judea),
8.25%, 2027			980,000		1,005,284
				$	37,869,744
Human Services – 2.8%
Cheneyville, LA, Westside Habilitation Center Rev., 8.375%, 2013		$	1,410,000	$	1,417,233
Iowa Finance Authority, Community Provider (Boys & Girls Home), 6.25%, 2028			500,000		478,770
Lehigh County, PA, General Purpose Authority (Kidspeace Corp.), 6%, 2023			3,000,000		2,853,750
New York City, NY, Industrial Development Agency, Civic Facility Rev. (Special Needs
Facilities), 6.5%, 2017			1,030,000		1,066,483
New York City, NY, Industrial Development Agency, Civic Facility Rev. (Special Needs
Facilities), "A", 5.75%, 2029			1,000,000		946,280
Orange County, FL, Health Facilities Authority Rev. (GF/Orlando Healthcare
Facilities), 8.75%, 2011			510,000		532,119
Orange County, FL, Health Facilities Authority Rev. (GF/Orlando Healthcare
Facilities), 9%, 2031			1,000,000		1,072,370
Osceola County, FL, Industrial Development Authority Rev. (Community Provider),
7.75%, 2017			454,000		456,778
				$	8,823,783
Industrial Revenue - Airlines – 4.4%
Dallas Fort Worth, TX, International Airport Facility Improvement Corp. (American
Airlines, Inc.), 7.25%, 2030		$	2,515,000	$	2,120,044
					6

MFS Municipal Income Trust
PORTFOLIO OF INVESTMENTS (Unaudited) 01/31/2006 - continued
Issuer		Shares/Par		Value ($)
Municipal Bonds – continued
Industrial Revenue - Airlines – continued
Dallas Fort Worth, TX, International Airport Facility Improvement Corp. (American
Airlines, Inc.), 6.375%, 2035	$	2,765,000	$	2,068,441
Houston, TX, Airport Systems Rev., Special Facilities (Continental, Inc.), "E",
6.75%, 2029		1,700,000		1,680,025
New Jersey Economic Development Authority (Continental Airlines, Inc.), 7.2%, 2030		1,595,000		1,602,720
New Jersey Economic Development Authority, Special Facilities Rev. (Continental
Airlines, Inc.), 6.25%, 2029		505,000		464,600
New York City, NY, Industrial Development Agencies Rev. (Continental Airlines, Inc.),
7.25%, 2008		160,000		160,018
New York City, NY, Industrial Development Agencies Rev. (Continental Airlines, Inc.),
8%, 2012		300,000		300,486
New York City, NY, Industrial Development Agency Rev. (American Airlines, Inc.),
7.625%, 2025		3,055,000		3,152,638
Tulsa, OK, Municipal Airport Trust Rev. (American Airlines, Inc.), "B", 5.65%, 2035		40,000		39,100
Tulsa, OK, Municipal Airport Trust Rev. (AMR Corp.), "B", 6%, 2035		2,500,000		2,466,025
			$	14,054,097
Industrial Revenue - Chemicals – 0.3%
Sweetwater County, WY, Solid Waste Disposal Rev. (FMC Corp.), 5.6%, 2035	$	985,000	$	997,322
Industrial Revenue - Environmental Services – 3.5%
California Pollution Control Financing Authority, Solid Waste Disposal Rev. (Browning
Ferris, Inc.), "A", 5.8%, 2016	$	1,000,000	$	979,310
California Statewide Community Development Authority, Solid Waste Facilities Rev.
(Republic Services, Inc.), "A", 4.95%, 2012		1,000,000		1,035,060
Gloucester County, NJ, Solid Waste Resource Recovery Rev. (Waste Management,
Inc.), 6.85%, 2029		850,000		935,128
Henrico County, VA, Industrial Development Authority Rev. (Browning Ferris, Inc.),
5.45%, 2014		1,750,000		1,696,310
Illinois Development Finance Authority, Solid Waste Disposal Rev. (Waste
Management, Inc.), 5.85%, 2007		4,500,000		4,583,880
Nevada Department of Business Rev. (Republic Services, Inc.), 5.625%, 2026		750,000		801,968
New Morgan, PA, Industrial Development Authority, Solid Waste Disposal Rev. (New
Morgan Landfill Co, Inc./Browning Ferris, Inc.), 6.5%, 2019		1,000,000		1,001,960
			$	11,033,616
Industrial Revenue - Metals – 0.2%
Mobile County, AL, Industrial Development Authority Rev. (Ipsco, Inc.), 6.875%, 2030	$	650,000	$	696,196
Industrial Revenue - Other – 5.3%
Gulf Coast, TX, Industrial Development Authority (Valero Energy Corp.), 5.6%, 2031	$	1,750,000	$	1,802,378
Gulf Coast, TX, Waste Disposal Rev. (Valero Energy Corp.), 6.65%, 2032		1,000,000		1,086,070
Hardeman County, TN, Correctional Facilities Rev., 7.75%, 2017		2,220,000		2,302,140
Madison County, FL, Rev. (Twin Oaks Project), "A", 6%, 2025 (r)		565,000		555,909
New Jersey Economic Development Authority, Economic Development Rev. (Holt
Hauling & Warehousing), 8.4%, 2015 (r)(q)		1,000,000		910,000
New Jersey Economic Development Authority, Economic Development Rev. (Holt
Hauling & Warehousing), 8.6%, 2017 (r)(q)		1,000,000		910,000
New York City, NY, City Industrial Development Agency Rev., Liberty
IAC/Interactivecorp, 5%, 2035		620,000		616,522
Park Creek Metropolitan District, CO, Rev., Custodial Receipts, CR-1,
7.875%, 2032  (a)		1,270,000		1,416,558
Park Creek Metropolitan District, CO, Rev., Custodial Receipts, CR-2,
7.875%, 2032  (a)		580,000		646,932
Pennsylvania Economic Development Financing Authority, Finance Authority Facilities
Rev. (Amtrak), "A", 6.25%, 2031		2,000,000		2,132,180
				7

MFS Municipal Income Trust
PORTFOLIO OF INVESTMENTS (Unaudited) 01/31/2006 - continued
Issuer		Shares/Par		Value ($)
Municipal Bonds – continued
Industrial Revenue - Other – continued
Philadelphia, PA, Industrial Development Authority Rev. (Host Marriott LP),
7.75%,  2017	$	3,255,000	$	3,288,136
Port Corpus Christi, TX, Industrial Development Authority Rev. (Citgo Petroleum
Corp.), 8.25%, 2031		700,000		737,926
Tooele County, UT, Hazardous Waste Treatment Rev. (Union Pacific Corp.),
5.7%, 2026		385,000		403,180
			$	16,807,931
Industrial Revenue - Paper – 6.4%
Bedford County, VA, Industrial Development Authority Rev. (Nekoosa Packaging), "A",
6.55%, 2025	$	1,000,000	$	1,030,230
Butler, AL, Industrial Development Board, Solid Waste Disposal Rev. (Georgia Pacific
Corp.), 5.75%, 2028		155,000		153,250
Columbus County, NC, Industrial Facilities & Pollution Control Financing Authority
(International Paper, Co.), "A", 6.15%, 2021		5,000,000		5,166,700
Delta County, MI, Economic Development Corp., Environmental Improvements Rev.
(Mead Westvaco Escanaba), "A", 6.25%, 2012 (c)		1,000,000		1,145,420
Delta County, MI, Economic Development Corp., Environmental Improvements Rev.
(Mead Westvaco Escanaba), "B", 6.45%, 2012 (c)		500,000		573,735
Effingham County, GA, Development Authority, Solid Waste Disposal Rev. (Fort
James), 5.625%, 2018		850,000		826,727
Hodge, LA, Utilities Rev. (Stone Container Corp.), 7.45%, 2024		3,335,000		3,568,083
Lowndes County, MS, Solid Waste Disposal & Pollution Control Rev. (Weyerhaeuser
Co.), 6.8%, 2022		2,000,000		2,400,660
Navajo County, AZ, Industrial Development Authority (Stone Container Corp.),
7.2%, 2027		880,000		903,866
Onondaga County, NY, Industrial Development Authority Rev., Solid Waste Disposal
Rev. (Solvay Paperboard LLC), 6.8%, 2014		1,000,000		1,051,910
West Point, VA, Industrial Development Authority, Solid Waste Disposal Rev.
(Chesapeake Corp.), 6.25%, 2019		1,815,000		1,819,011
West Point, VA, Industrial Development Authority, Solid Waste Disposal Rev.
(Chesapeake Corp.), "A", 6.375%, 2019		700,000		701,554
York County, SC, Pollution Control Rev. (Bowater, Inc.), "A", 7.4%, 2010		830,000		835,918
			$	20,177,064
Miscellaneous Revenue - Entertainment & Tourism – 0.7%
California Statewide Communities Development Authority Rev., East Valley Tourist
(Cabazon Casino), "A", 9.25%, 2020 (a)	$	1,155,000	$	1,272,279
Mississippi Development Bank, Special Obligation (Diamond Lakes Utilities),
6.25%, 2017		1,000,000		1,025,820
			$	2,298,099
Miscellaneous Revenue - Other – 2.3%
Austin, TX, Convention Center (Convention Enterprises, Inc.), "A", 6.6%, 2021	$	400,000	$	427,724
Austin, TX, Convention Center (Convention Enterprises, Inc.), "A", 6.7%, 2028		600,000		639,870
Baltimore, MD, Convention Center Hotel Rev., "B", 5.875%, 2039		295,000		305,428
Cleveland Cuyahoga County, OH, Port Authority Rev. (Cleveland City), "B",
4.5%,  2030		1,320,000		1,322,072
Cleveland-Cuyahoga County, OH, Port Authority Rev. (Fairmount), "B", 5.125%, 2025		190,000		194,463
Cleveland-Cuyahoga County, OH, Port Authority Rev. (Myers University), "E",
5.6%,  2025		135,000		141,472
Dayton Montgomery County, OH, Port Authority Rev. (Parking Garage), 6.125%, 2024		1,130,000		1,236,096
Gallery Certificate Trust, PA, Parking Rev., FSA, 4.5%, 2013 (r)		785,000		783,116
San Antonio, TX, Convention Center, Hotel Financial Corp., Contract Rev.
(Empowerment Zone), "A", AMBAC, 5%, 2034		695,000		707,030
Southwestern Illinois Development Authority Rev., Solid Waste Disposal Rev.,
5.9%,  2014		310,000		314,148
				8

MFS Municipal Income Trust
PORTFOLIO OF INVESTMENTS (Unaudited) 01/31/2006 - continued
Issuer		Shares/Par		Value ($)
Municipal Bonds – continued
Miscellaneous Revenue - Other – continued
Summit County, OH, Port Authority Building (Seville), "A", 5.1%, 2025	$	210,000	$	214,343
Summit County, OH, Port Authority Building (Twinsburg Township), "D", 5.125%, 2025		160,000		163,758
Summit County, OH, Port Authority Building (Workforce Policy Board), "F",
4.875%,  2025		915,000		922,677
Toledo Lucas County, OH, Port Authority Development Rev. (Northwest Ohio Bond
Fund), "C", 5.125%, 2025		90,000		90,716
			$	7,462,913
Multi-Family Housing Revenue – 5.0%
Bay County, FL, Housing Finance Authority, Multi-Family Rev. (Andrews Place II
Apartments), FSA, 5%, 2035	$	210,000	$	212,129
Bay County, FL, Housing Finance Authority, Multi-Family Rev. (Andrews Place II
Apartments), FSA, 5.1%, 2046		390,000		393,935
Bexar County TX, Multi-Family Housing Rev. (American Opportunity Housing), "A",
MBIA, 5.7%, 2021		1,250,000		1,308,713
Charter Mac Equity Issuer Trust, 7.1%, 2009		1,000,000		1,079,940
Charter Mac Equity Issuer Trust, 6%, 2019 (a)		2,000,000		2,133,780
Eaglebend, CO, Affordable Housing Corp., Multi-Family Rev. (Housing Project), "A",
6.4%, 2017		1,000,000		1,003,870
Florida Multi-Family Housing Finance Agency Rev. (Center Court Apartments),
8.5%, 2018		830,000		835,984
GMAC Municipal Mortgage Trust, "B-1", 5.6%, 2039 (a)		1,000,000		1,026,960
GMAC Municipal Mortgage Trust, "C-1", 5.7%, 2040 (a)		500,000		501,730
Indianapolis, IN, Multi-Family Rev. (Cambridge Station Apartments II), FNMA,
5.25%,  2039		465,000		473,612
Metropolitan Government of Nashville & Davidson County, TN, Health & Educational &
Housing Facilities Board Rev. (Berkshire Place), GNMA, 6%, 2023		500,000		525,010
Munimae, TE, Bond Subsidiary LLC, 6.875%, 2009		2,000,000		2,146,480
Munimae, TE, Bond Subsidiary LLC, 5.4%, 2049 (a)		1,000,000		1,008,180
North Charleston, SC, Housing Authority Rev. (Horizon Village), "A", GNMA,
5.15%, 2048		445,000		439,705
San Bernardino County, CA (Equity Residential/Redlands), "A", 5.2%, 2029		2,000,000		2,056,380
Seattle, WA, Housing Authority Rev., Capped Fund Program (High Rise Rehab), "I",
FSA, 5%, 2025		670,000		674,060
			$	15,820,468
Sales & Excise Tax Revenue – 0.2%
Desloge, MO, Tax Increment Rev. (U.S. Highway 67 Street Redevelopment),
5.2%,  2020	$	525,000	$	526,696
Single Family Housing - Local – 2.2%
Cook County, IL, Single Family Mortgage Rev., "A", 0%, 2015	$	55,000	$	12,178
Corpus Christi, TX, Housing Finance Authority Rev., "B", 0%, 2011		2,580,000		1,517,711
Dallas, TX, Housing Finance Corp., Single Family Mortgage Rev., MBIA, 0%, 2016		2,880,000		963,418
Jefferson Parish, LA, Single Family Mortgage Rev., GNMA, 6.625%, 2023		285,000		294,570
Jefferson Parish, LA, Single Family Mortgage Rev., GNMA, 6.75%, 2030		425,000		443,942
Jefferson Parish, LA, Single Family Mortgage Rev., GNMA, 6.3%, 2032		735,000		768,178
Sedgwick & Shawnee Counties, KS, Single Family Housing Rev., "A", FNMA,
5.55%, 2037		1,000,000		1,070,150
Sedgwick & Shawnee Counties, KS, Single Family Housing Rev., "A", GNMA,
6.45%, 2029		450,000		464,679
Sedgwick & Shawnee Counties, KS, Single Family Housing Rev., "A", GNMA,
5.65%,  2037		795,000		850,920
Sedgwick & Shawnee Counties, KS, Single Family Housing Rev., "A-1", GNMA,
5.75%, 2037		280,000		300,877
				9

MFS Municipal Income Trust
PORTFOLIO OF INVESTMENTS (Unaudited) 01/31/2006 - continued
Issuer		Shares/Par		Value ($)
Municipal Bonds – continued
Single Family Housing - Local – continued
Sedgwick & Shawnee Counties, KS, Single Family Housing Rev., "A-5", GNMA,
5.9%, 2037	$	205,000	$	223,833
			$	6,910,456
Single Family Housing - State – 2.8%
Colorado Housing & Finance Authority Rev., "A-2", 7.15%, 2014	$	8,000	$	8,025
Colorado Housing & Finance Authority Rev., "A-2", AMBAC, 6.6%, 2028		440,000		457,010
Colorado Housing & Finance Authority Rev., "C-2", 5.9%, 2023		200,000		208,560
Colorado Housing & Finance Authority Rev., "C-2", FHA, 6.6%, 2032		200,000		207,578
Colorado Housing & Finance Authority Rev., "C-3", FHA, 6.375%, 2033		90,000		92,525
Colorado Housing & Finance Authority Rev., "D-2", 6.9%, 2029		480,000		498,917
Georgia Housing & Finance Authority Rev., 5.65%, 2021		2,490,000		2,553,097
Louisiana Housing Finance Agency, Single Family Mortgage Rev., GNMA, 6.4%, 2032		210,000		216,124
Minnesota Housing Finance Agency Rev., Residential Housing Finance, "B",
4.8%, 2023		225,000		226,897
Missouri State Housing Development Commission, Single Family Mortgage Rev.
(Home Loan Program), GNMA, 6.35%, 2032		340,000		351,057
Missouri State Housing Development Commission, Single Family Mortgage Rev.
(Home Loan Program), GNMA, 6.85%, 2032		180,000		187,238
Nebraska Investment Finance Authority Single Family Mortgage Rev., 0%, 2015		5,900,000		2,448,913
Nebraska Investment Finance Authority, "C", GNMA, 6.25%, 2021		605,000		619,980
New Hampshire Housing Finance Authority Rev., "B", 5.875%, 2030		110,000		111,177
Texas Affordable Housing Corp., Single Family Mortgage Rev., "B", 5.25%, 2039		745,000		777,527
			$	8,964,625
Solid Waste Revenue – 1.7%
Delaware County, PA, Industrial Development Authority Rev., Resource Recovery
Facilities, (American Ref-fuel), "A", 6.5%, 2008	$	1,600,000	$	1,674,016
Massachusetts Development Finance Agency Rev. (Ogden Haverhill Associates),
6.7%, 2014		725,000		768,464
Massachusetts Industrial Finance Agency, Resource Recovery Rev. (Ogden Haverhill
Associates), 5.6%, 2019		2,850,000		2,876,477
			$	5,318,957
State & Local Agencies – 2.6%
Chicago, IL, Public Building Commission, Building Rev., RITES, FGIC,
9.096%, 2016  (r)(v)	$	1,300,000	$	1,597,726
Chicago, IL, Public Building Commission, Building Rev., RITES, FGIC,
9.096%, 2017  (r)(v)		1,050,000		1,301,643
College Park, GA, Industrial Development Authority Rev. (Civic Center), AMBAC,
5.75%, 2010 (c)		1,000,000		1,113,250
Golden State, CA, Tobacco Securitization Corp., Tobacco Settlement Rev., Enhanced,
"B", 5.375%, 2010 (c)		2,000,000		2,155,120
King George County, VA, Industrial Development Authority Lease Rev.,
FSA, 5%, 2036		1,300,000		1,344,460
New Jersey Economic Development Authority Rev., School Facilities Construction,
"O", 5.25%, 2025		640,000		680,326
			$	8,192,525
Student Loan Revenue – 0.2%
Access to Loans for Learning, California Student Loan Rev., 7.95%, 2030	$	650,000	$	686,173
Tax - Other – 1.8%
Black Hawk, CO, Device Tax Rev., 5.625%, 2017	$	250,000	$	250,448
Dade County, FL, Special Obligations Rev., Capital Appreciation Bond, "B", AMBAC,
0%, 2008 (c)		15,080,000		3,081,146
New Jersey Economic Development Authority Rev. Cigarette Tax, 5.5%, 2024		340,000		355,705
New Jersey Economic Development Authority Rev. Cigarette Tax, 5.75%, 2029		615,000		652,755
				10

MFS Municipal Income Trust
PORTFOLIO OF INVESTMENTS (Unaudited) 01/31/2006 - continued
Issuer		Shares/Par		Value ($)
Municipal Bonds – continued
Tax - Other – continued
New Jersey Economic Development Authority Rev. Cigarette Tax, 5.5%, 2031	$	270,000	$	281,032
New Jersey Economic Development Authority Rev. Cigarette Tax, 5.75%, 2034		410,000		433,723
Virgin Islands Public Finance Authority Rev., 6%, 2006		250,000		253,740
Virgin Islands Public Finance Authority Rev., "E", 5.875%, 2018		500,000		529,605
			$	5,838,154
Tax Assessment – 5.0%
Allegheny County, PA, Redevelopment Authority Rev. (Pittsburgh Mills), 5.1%, 2014	$	235,000	$	242,687
Allegheny County, PA, Redevelopment Authority Rev. (Pittsburgh Mills), 5.6%, 2023		150,000		157,601
Arborwood Community Development District, Florida Capital Improvement Rev.
(Master Infrastructure Projects), "A", 5.35%, 2036		630,000		629,326
Arborwood Community Development District, Florida Capital Improvement Rev.
(Master Infrastructure Projects), "B", 5.1%, 2014		250,000		249,355
Atlanta, GA, Tax Allocation (Eastside Project), "B", 5.6%, 2030		815,000		824,218
Capital Region Community Development District, FL, Capital Improvement Rev., "B",
5.95%, 2006		65,000		65,372
Chicago IL, Ryan Garfield Tax Increment Allocation, 10.125%, 2007		425,000		425,332
Concorde Estates Community Development District, FL, Capital Improvement Rev.,
"B", 5%, 2011		770,000		773,273
Fishhawk Community Development District, FL, 5.125%, 2009		915,000		917,955
Katy, TX, Development Authority Rev., 5.8%, 2011		825,000		849,263
Katy, TX, Development Authority Rev., "B", 6%, 2018		925,000		953,250
Killarney, FL, Community Development District, "B", 5.125%, 2009		465,000		466,079
Lakes by the Bay South Community Development District, FL, Special Assessment,
"B", 5.3%, 2009		1,025,000		1,028,547
Markham, IL, Tax Increment Rev., 9%, 2012		935,000		944,228
Middle Village Community Development District, FL, Special Assessment,
"B", 5%, 2009		585,000		587,510
North Springs Improvement District, FL, Special Assessment Rev. (Parkland Golf
Country Club), "B-1", 5.125%, 2015		350,000		349,993
North Springs Improvement District, FL, Special Assessment Rev. (Parkland Golf
Country Club), "B-2", 5.125%, 2015		165,000		165,104
Old Palm Community Development District, FL, Special Assessment (Palm Beach
Gardens), "A", 5.9%, 2035		255,000		260,840
Old Palm Community Development District, FL, Special Assessment (Palm Beach
Gardens), "B", 5.375%, 2014		370,000		375,376
Panther Trace, FL, Community Development District Rev., 5.4%, 2008		25,000		24,941
Panther Trace, FL, Community Development District Rev., "B", 5%, 2010		790,000		789,684
Parkway Center, FL, Community Development District Rev., "B", 5.625%, 2014		1,260,000		1,285,402
Paseo, FL, Community Development District, "B", 4.875%, 2010		505,000		500,743
Preserve at Wilderness Lake, FL, Community Development District, Capital
Improvement, "B", 5%, 2009		300,000		298,116
Prince George's County, MD, Special Obligations (National Harbor Project),
5.2%, 2034		245,000		245,826
Reunion East Community Development District, FL, Special Assessment, 5.9%, 2007		115,000		115,820
Sterling Hill Community Development District, FL, Capital Improvement Rev.,
5.5%, 2010		470,000		474,254
Tuscany Reserve Community Development District, FL, "B", 5.25%, 2016		510,000		516,191
Villasol Community Development District, FL, Special Assessment Rev.,
"B", 5.375%, 2008		375,000		376,639
Watergrass Community Development District, FL, Special Assessment Rev., "B",
4.875%, 2010		935,000		934,402
			$	15,827,327
Tobacco – 6.2%
Badger, WI, Tobacco Asset Securitization Corp., 6.125%, 2027	$	4,065,000	$	4,298,250
				11

MFS Municipal Income Trust
PORTFOLIO OF INVESTMENTS (Unaudited) 01/31/2006 - continued
Issuer		Shares/Par		Value ($)
Municipal Bonds – continued
Tobacco – continued
California Statewide Financing Authority, Tobacco Settlement, 5.625%, 2029	$	1,775,000	$	1,840,178
Children's Trust Fund, Tobacco Settlement Rev., Puerto Rico, "A", 0%, 2050		4,000,000		250,920
Children's Trust Fund, Tobacco Settlement Rev., Puerto Rico, "B", 0%, 2055		4,000,000		133,760
District of Columbia, Tobacco Settlement, 6.25%, 2024		1,210,000		1,281,390
Golden State, CA, Tobacco Securitization Corp., Tobacco Settlement, 7.8%, 2042		1,000,000		1,193,060
Golden State, CA, Tobacco Securitization Corp., Tobacco Settlement, "A", 5%, 2021		720,000		726,235
Golden State, CA, Tobacco Securitization Corp., Tobacco Settlement,
"A-1", 6.25%, 2033		785,000		856,616
Golden State, CA, Tobacco Securitization Corp., Tobacco Settlement,
"A-1", 6.625%,  2040		125,000		139,276
Iowa Tobacco Settlement Authority, Tobacco Settlement Rev., Asset Backed, "B",
5.3%, 2011 (c)		2,000,000		2,147,220
Iowa Tobacco Settlement Authority, Tobacco Settlement Rev., Asset Backed, "B", 0%
to 2007, 5.6% to 2034		1,635,000		1,496,908
Louisiana Tobacco Settlement Authority, 5.5%, 2030		1,435,000		1,494,926
New Jersey Tobacco Settlement Authority, 5.75%, 2032		950,000		982,813
Rockland Tobacco Asset Securitization Corp., NY, Tobacco Asset Backed,
"C", 0%, 2060		11,045,000		189,201
South Carolina Tobacco Settlement Authority, 6.375%, 2028		1,000,000		1,069,510
South Carolina Tobacco Settlement Authority, "B", 6%, 2022		1,260,000		1,325,533
Washington Tobacco Settlement Authority, 6.5%, 2026		155,000		169,110
			$	19,594,906
Toll Roads – 1.2%
E-470 Public Highway Authority, Colorado Rev., Capital Appreciation, "B",
MBIA, 0%, 2027	$	4,115,000	$	1,408,112
Niagara Falls, NY, Bridge Commission, Toll Rev., RITES, FGIC, 6.703%, 2015 (r)(v)		1,500,000		1,769,130
Pocahontas Parkway Assn., VA, Toll Road Rev., 0%, 2011		1,000,000		702,870
			$	3,880,112
Transportation - Special Tax – 2.8%
Missouri Highways & Transportation Commission, State Road Rev., "A", 5.625%, 2018	$	4,500,000	$	4,859,775
Telluride, CO, Real Estate Transfer Assessment Rev. (Gondola Transit Co.), ETM,
11.5%, 2012 (c)		2,900,000		4,032,943
			$	8,892,718
Universities - Colleges – 3.9%
California Educational Facilities Authority Rev. (L.A. College of Chiropractic),
5.6%, 2017	$	750,000	$	732,593
Houston, TX, Community College Systems, MBIA, 7.875%, 2025		2,500,000		3,050,575
Illinois Educational Facilities Authority Rev. (Augustana College), "A", 5.625%, 2022		400,000		425,864
Islip, NY, Community Development Agency Rev. (New York Institute of Technology),
7.5%, 2006 (c)		2,500,000		2,558,325
Louisiana State University (Health Sciences Center Project), MBIA, 6.375%, 2031		2,500,000		2,769,200
Savannah, GA, Economic Development Authority Rev. (College of Art & Design, Inc.),
6.5%, 2009 (c)		625,000		693,250
University of Arkansas, University Rev. (UAMS Campus), "B", MBIA, 5%, 2034		300,000		310,725
University of Colorado Enterprise Systems Rev., Refunding & Improvement, FGIC,
5%, 2030		635,000		665,836
West Virginia, Higher Education Facilities Rev., "B", FGIC, 5%, 2034		1,270,000		1,311,148
			$	12,517,516
Universities - Secondary Schools – 1.4%
California Statewide Communities, Development Authority Rev. (Escondido Charter
High School), 7.5%, 2023	$	570,000	$	580,357
California Statewide Communities, Development Authority Rev. (Escondido Charter
High School), 7.5%, 2036		1,000,000		1,019,910
				12

MFS Municipal Income Trust
PORTFOLIO OF INVESTMENTS (Unaudited) 01/31/2006 - continued
Issuer		Shares/Par		Value ($)
Municipal Bonds – continued
Universities - Secondary Schools – continued
Maryland Industrial Development Financing Authority, Economic Development
Authority Rev., (Our Lady of Good Council), "A", 6%, 2035	$	150,000	$	155,429
Michigan Municipal Bond Authority Rev. (Detroit Academy of Arts & Sciences),
8%, 2031		1,000,000		1,070,620
Michigan Municipal Bond Authority Rev. (YMCA Service Learning Academy),
7.625%, 2021		1,000,000		1,066,650
Pima County, AZ, Industrial Development Authority Education Rev. (Arizona Charter
Schools), "C", 6.75%, 2031		500,000		522,870
			$	4,415,836
Utilities - Cogeneration – 2.2%
Alaska Industrial Development Export Authority, Power Rev., Upper Lynn Canal
Regional Power, 5.8%, 2018	$	830,000	$	808,379
Carbon County, PA, Industrial Development Authority Rev. (Panther Creek Partners),
6.65%, 2010		2,370,000		2,500,824
Klamath Falls, OR, Electric Rev. (Klamath Cogeneration), 6%, 2025		2,260,000		1,834,284
Pennsylvania Economic Development Financing Authority Rev., Resources Recovery
Rev. (Colver), "G", 5.125%, 2015 (r)		350,000		345,510
Pennsylvania Economic Development Financing Authority Rev., Resources Recovery
Rev. (Northampton Generating), 6.4%, 2009		350,000		349,398
Pennsylvania Economic Development Financing Authority Rev., Resources Recovery
Rev. (Northampton Generating), 6.5%, 2013		1,000,000		994,630
			$	6,833,025
Utilities - Investor Owned – 9.7%
Brazos River Authority, TX, Authority Texas Rev. (Reliant Energy, Inc.), "A", 5.375%,
2019	$	500,000	$	509,885
Brazos River Authority, TX, Authority Texas Rev. (Reliant Energy, Inc.), "B", AMBAC,
5.125%, 2020		2,000,000		2,079,980
Brazos River Authority, TX, Pollution Control Rev. (Texas Utility Co.), "B", 6.3%, 2032		315,000		336,631
Brazos River Authority, TX, Pollution Control Rev. (Texas Utility Co.), "C", 6.75%, 2038		715,000		785,842
Calcasieu Parish, LA, Industrial Development Board, Pollution Control Rev. (Entergy
Gulf States, Inc.), 5.45%, 2010		1,250,000		1,255,650
Clark County, NV, Industrial Development Rev. (Southwest Gas Corp.), "A", AMBAC,
4.85%, 2035		1,055,000		1,046,729
Connecticut Development Authority, Pollution Control Rev. (Connecticut Light & Power
Co.), 5.85%, 2028		2,000,000		2,115,340
Connecticut Development Authority, Pollution Control Rev. (Connecticut Light & Power
Co.), 5.95%, 2028		2,270,000		2,397,733
Farmington, NM, Pollution Control Rev. (New Mexico Public Service), 5.8%, 2022		2,105,000		2,129,671
Farmington, NM, Pollution Control Rev. (New Mexico Public Service), "A", 6.3%, 2016		2,195,000		2,294,829
Forsyth, MT, Pollution Control Rev. (Portland General), 5.2%, 2033		230,000		238,292
Matagorda County, TX (Centerpoint Energy), 5.6%, 2027		1,500,000		1,556,775
Matagorda County, TX, Pollution Control Rev. (Reliant Energy), 5.95%, 2030		1,655,000		1,698,990
Mecklenburg County, VA, Industrial Development Authority Rev. (UAE Mecklenburg
LP), 6.5%, 2017		800,000		883,808
New Hampshire Business Finance Authority, Pollution Control Rev. (Public Service of
New Hampshire), 6%, 2021		1,000,000		1,043,140
Ohio Air Quality Development Authority, Pollution Control Rev. (Cleveland Electric),
"B", 6%, 2020		3,000,000		3,126,690
Pima County, AZ, Industrial Development Authority Rev. (Tucson Electric Power Co.),
"A", 6.1%, 2025		650,000		650,124
Pittsylvania County, VA, Industrial Development Authority Rev., 7.5%, 2014		3,000,000		3,073,410
Port Morrow, OR, Pollution Control Rev. (Portland General Electric), 5.2%, 2033		550,000		571,901
Trinity River Authority, TX, Pollution Control Rev. (TXU Electric Co.), 6.25%, 2028		500,000		541,060
				13

MFS Municipal Income Trust
PORTFOLIO OF INVESTMENTS (Unaudited) 01/31/2006 - continued
Issuer		Shares/Par		Value ($)
Municipal Bonds – continued
Utilities - Investor Owned – continued
West Feliciana Parish, LA, Pollution Control Rev. (Gulf States Utilities Co.),
5.8%, 2015	$	1,500,000	$	1,514,414
West Feliciana Parish, LA, Pollution Control Rev. (Gulf States Utilities Co.),
5.8%, 2016		1,000,000		1,001,780
			$	30,852,674
Utilities - Municipal Owned – 3.1%
California Department of Water Resources Power Supply Rev., "A", 5.75%, 2012 (c)	$	1,250,000	$	1,412,013
North Carolina Eastern Municipal Power Agency, Power Systems Rev.,
"B', 5.55%, 2014		2,150,000		2,271,024
North Carolina Municipal Power Agency (Catawba Electric Rev.), "B", 6.5%, 2020		2,000,000		2,208,640
San Antonio, TX, Electric & Gas, "A", 5%, 2025		495,000		519,111
Seattle, WA, Municipal Light & Power Rev., 5.625%, 2017		3,000,000		3,226,920
Southern California Public Power Authority (Transmission Project Rev.), RIBS,
8.167%, 2012 (v)		100,000		100,308
			$	9,738,016
Water & Sewer Utility Revenue – 2.9%
Everett, WA, Water & Sewer Rev., MBIA, 5%, 2027	$	280,000	$	293,272
Louisville & Jefferson, KY, District Sewer & Drain System, "A", FGIC, 5.25%, 2037		865,000		926,527
Mississippi Development Bank Special Obligations, Grenada, MS, Water & Sewer
Systems Project, "N", FSA, 5%, 2030		710,000		737,349
New York City, NY, Municipal Water & Sewer Finance Authority Rev., 5.5%, 2010 (c)		5,000,000		5,469,950
New York City, NY, Municipal Water & Sewer Finance Authority, Water & Sewer
Systems Rev., "D", 5%, 2038		760,000		784,046
Upland, CA, Public Financing Authority Rev., Water Systems Improvement, AMBAC,
5%, 2033		850,000		875,568
			$	9,086,712
Total Municipal Bonds			$	446,767,187
Floating Rate Demand Notes – 1.5%
Allegheny County, PA, Hospital Development Authority Rev. (Presbyterian University
Hospital), "C", 3.05%, due 2/02/06	$	100,000	$	100,000
Atlanta, GA, Water & Wastewater Rev., "C", 3.07%, due 2/01/06		1,100,000		1,100,000
Jefferson County, AL, Sewer Rev., Capital Improvement Warrants, "A",
3.02%, due  2/02/06		1,700,000		1,700,000
Missouri Health & Educational Facilities Authority Rev., Medical Research Facilities
(Stowers Institute), 3.02%, due 2/02/06		200,000		200,000
New Castle, PA, Area Hospital Authority (Jameson Memorial Hospital),
3.1%, due  2/01/06		125,000		125,000
Sublette County, WY, Pollution Control Rev. (Exxon Mobil Corp.), 3%, due 2/01/06		1,500,000		1,500,000
Total Floating Rate Demand Notes			$	4,725,000
Total Investments			$	451,492,187
Other Assets, Less Liabilities – 1.8%				5,765,420
Preferred Shares (Issued by the Trust) – (44.1)%				(140,069,616)
Net Assets applicable to common shares – 100.0%			$	317,187,991

(q)	Interest received was less than stated coupon rate.
(a)	SEC Rule 144A restriction.
(d)	Non-income producing security - in default.
(c)	Refunded bond.
(v)	Inverse floating rate security.
	14

MFS Municipal Income Trust
PORTFOLIO OF INVESTMENTS (Unaudited) 01/31/2006 - continued
(r)	Restricted securities (excluding 144A issues) are not registered under the Securities Act of 1933 and are subject to legal or
	contractual restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the
	public if the securities are registered. Disposal of these securities may involve time-consuming negotiations and prompt sale
	at an acceptable price may be difficult. The trust holds the following restricted securities:

	Acquisition		Acquisition			Current	Total %
Restricted Securities	Date		Cost			Market Value	of Net Assets
Arizona Health Facilities Authority
Rev. (The Terraces Project), 7.75%, 2033	10/17/2003	$	736,845		$	827,513
Bridgeport, CT, Senior Living Facility
Rev. (3030 Park Retirement
Community), 7.25%, 2035	3/24/2005		1,020,000			870,335
Chicago, IL, O'Hare International
Airport Rev., RITES, FSA, 7.634%, 2022	8/21/2003		1,599,510			1,788,990
Chicago, IL, Public Building
Commission, Building Rev., RITES,
FGIC, 9.096%, 2016	3/11/1999		1,403,610			1,597,726
Chicago, IL, Public Building
Commission, Building Rev., RITES,
FGIC, 9.096%, 2017	3/11/1999		1,123,542			1,301,643
Contra Costa County, CA, Residential
Rental Facilities Rev. (Cypress
Meadows), 7%, 2028	9/21/1998		217,707			65,312
Gallery Certificate Trust, PA, Parking
Rev., FSA, 4.5%, 2013	12/17/2003		785,687			783,116
Madison County, FL, Rev. (Twin
Oaks Project) "A", 6%, 2025	7/13/2005		555,310			555,909
New Jersey Economic Development
Authority, Economic Development
Rev. (Holt Hauling & Warehousing), 8.4%, 2015	1/30/1997		1,049,280			910,000
New Jersey Economic Development
Authority, Economic Development
Rev. (Holt Hauling & Warehousing), 8.6%, 2017	1/30/1997		1,051,940			910,000
Niagara Falls, NY, Bridge
Commission, Toll Rev., RITES, FGIC,
6.703%, 2015	5/21/1999		1,609,680			1,769,130
Pennsylvania Economic Development
Financing Authority Rev., Resources
Recovery Rev. (Colver) "G", 5.125%, 2015	7/15/2005		350,000			345,510
Total Restricted Securities					$	11,725,184	3.7%

The following abbreviations are used in the Portfolio of Investments and are defined:
BMA	Bond Market Assn.
COP	Certificate of Participation
ETM	Escrowed to Maturity
Insurers
AMBAC	AMBAC Indemnity Corp.
FGIC	Financial Guaranty Insurance Co.
		15

MFS Municipal Income Trust
PORTFOLIO OF INVESTMENTS (Unaudited) 01/31/2006 - continued
FHA	Federal Housing Administration
FNMA	Federal National Mortgage Assn.
FSA	Financial Security Assurance, Inc.
GNMA	Government National Mortgage Assn.
MBIA	MBIA Insurance Corp.
PSF	Permanent School Fund
Inverse Floaters
INFLOS	Inverse Floating Security
RIBS	Residual Interest Bonds
RITES	Residual Interest Tax-Exempt Security
See attached schedules. For more information see notes to financial statements as disclosed in the most recent semiannual or annual
report.
	16

MFS Municipal Income Trust

Supplemental Schedules (Unaudited) 01/31/2006

(1) Portfolio Securities

The cost and unrealized appreciation and depreciation in the value of the investments owned by the trust, as computed
on a federal income tax basis, are as follows:

Aggregate Cost	$	424,458,063
Gross unrealized appreciation	$	28,733,875
Gross unrealized depreciation		(1,699,751)
Net unrealized appreciation (depreciation)	$	27,034,124
Aggregate cost includes prior fiscal year end tax adjustments.

(2) Financial Instruments

Swap Agreements: Interest Rate Swaps

		Notional Principal					Unrealized
		Amount of	Cash Flows Paid	Cash Flows			Appreciation
Expiration	Currency	Contract	by the Fund	Received by the Fund			(Depreciation)
08/29/2016	USD	$45,000,000	Fixed - 10 Year BMA	Floating - 7 Day BMA		$	(301,882)
			Swap Index (3.927%)	Swap Index
05/16/2018	USD	25,000,000	Fixed - 12 Year BMA	Floating - 7 Day BMA			201,962
			Swap Index (3.797%)	Swap Index
						$	(99,920)
At January 31, 2006, the fund had sufficient cash and/or securities to cover any commitments under all derivative contracts.
MFS Investment Management®
							17

ITEM 2.  CONTROLS AND PROCEDURES.
(a)	Based upon their evaluation of the registrant’s disclosure controls and procedures (as
	defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the “Act”)) as
	conducted within 90 days of the filing date of this Form N-Q, the registrant’s principal
	financial officer and principal executive officer have concluded that those disclosure
	controls and procedures provide reasonable assurance that the material information
	required to be disclosed by the registrant on this report is recorded, processed,
	summarized and reported within the time periods specified in the Securities and Exchange
	Commission’s rules and forms.
(b)	There were no changes in the registrant’s internal controls over financial reporting (as
	defined in Rule 30a-3(d) under the Act) that occurred during the registrant’s last fiscal
	quarter that have materially affected, or are reasonably likely to materially affect, the
	registrant’s internal control over financial reporting.
ITEM 3.  EXHIBITS.
File as exhibits as part of this Form a separate certification for each principal executive officer
and principal financial officer of the registrant as required by Rule 30a-2(a) under the Act (17
CFR 270.30a-2): Attached hereto.

Notice
A copy of the Amended and Restated Declaration of Trust of the Registrant is on file with the
Secretary of State of the Commonwealth of Massachusetts and notice is hereby given that this
instrument is executed on behalf of the Registrant by an officer of the Registrant as an officer
and not individually and the obligations of or arising out of this instrument are not binding
upon any of the Trustees or shareholders individually, but are binding only upon the assets and
property of the respective constituent series of the Registrant.
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, thereunto duly authorized.
Registrant: MFS MUNICIPAL INCOME TRUST
By (Signature and Title)*	MARIA F. DWYER
	Maria F. Dwyer, President
Date: March 24, 2006
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 (Signature and Title)*	MARIA F. DWYER
	Maria F. Dwyer, President (Principal Executive Officer)
Date: March 24, 2006
By (Signature and Title)*	TRACY ATKINSON
	Tracy Atkinson, Treasurer (Principal Financial Officer and
	Accounting Officer)
Date: March 24, 2006
* Print name and title of each signing officer under his or her signature.