Thornburg Intermediate Municipal Fund
State-by-State Breakdown
Below is a table showing the percentage breakdown by state or U.S. possession of the income earned by Thornburg Intermediate Municipal Fund, (the “Fund”) for those states or possessions in which the Fund had investments at any time during 2007.
The Fund did not declare capital gains distributions during 2007.
Reporting Requirements for your 2007 Federal Return: Individuals
Your dividends from the Fund must be reported on your 2007 return. These dividends are not subject to regular federal income tax. A small portion of this income, as shown below, may be treated as a preference item for the purpose of the alternative minimum tax on certain individuals and on corporations. Shareholders are advised to consult their own tax advisors as to the extent and effect of such treatment.
| Jan | Feb | Mar | Apr | May | June | July | Aug | Sep | Oct | Nov | Dec | Avg 07 | |
| Municipal Income | 94.70% | 94.44% | 94.42% | 94.64% | 94.90% | 95.43% | 95.77% | 95.82% | 95.25% | 94.98% | 94.62% | 93.87% | 94.90% |
| Municipal Preference Income | 5.30% | 5.56% | 5.58% | 5.36% | 5.10% | 4.57% | 4.23% | 4.18% | 4.75% | 5.02% | 5.38% | 6.13% | 5.10% |
| Total Municipal Income | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% |
Remember: State and local taxes vary, and we suggest that you contact your tax advisor for information on those taxes.
Special Requirements for Corporations
Interest on all tax-exempt investments owned by a corporation, including income dividends on shares of the Fund, will be included in the corporation’s adjusted net book income for purposes of calculating the alternative minimum taxable income of such corporations.
The following listing represents the percentage breakdown by state or U.S. possession of the income paid by the Fund for those states or possessions in which the Fund had investments at any time during 2007. State and local taxes vary, and we suggest that you contact your tax advisor with respect to these taxes. Please retain this notice for your records.
| Jan | Feb | Mar | Apr | May | June | July | Aug | Sep | Oct | Nov | Dec | Avg 07 | |
| Alabama | 0.50% | 0.51% | 0.87% | 0.55% | 0.50% | 0.51% | 0.49% | 0.50% | 0.49% | 0.48% | 0.48% | 0.48% | 0.53% |
| Alaska | 0.56% | 0.57% | 0.56% | 0.56% | 0.56% | 0.57% | 0.55% | 0.56% | 0.55% | 0.54% | 0.54% | 0.54% | 0.55% |
| Arizona | 1.84% | 1.90% | 1.44% | 1.48% | 1.52% | 1.56% | 1.73% | 1.73% | 1.70% | 1.82% | 2.13% | 2.12% | 1.75% |
| Arkansas | 0.52% | 0.52% | 0.52% | 0.52% | 0.52% | 0.52% | 0.51% | 0.51% | 0.50% | 0.50% | 0.50% | 0.49% | 0.51% |
| California | 3.73% | 3.67% | 3.32% | 3.47% | 3.21% | 3.77% | 4.07% | 3.43% | 2.84% | 2.46% | 2.34% | 2.37% | 3.21% |
| Colorado | 5.75% | 5.92% | 6.54% | 6.40% | 6.12% | 5.99% | 5.84% | 5.59% | 5.27% | 5.21% | 5.20% | 5.24% | 5.75% |
| Connecticut | 0.00% | 0.00% | 0.00% | 0.00% | 0.10% | 0.10% | 0.03% | 0.02% | 0.00% | 0.00% | 0.00% | 0.40% | 0.06% |
| Delaware | 0.30% | 0.30% | 0.30% | 0.30% | 0.30% | 0.30% | 0.30% | 0.30% | 0.29% | 0.29% | 0.29% | 0.28% | 0.30% |
| District of Columbia | 1.85% | 1.89% | 1.86% | 2.09% | 2.10% | 2.14% | 2.08% | 2.18% | 2.23% | 2.20% | 2.20% | 2.19% | 2.09% |
| Florida | 10.63% | 10.82% | 10.65% | 10.59% | 10.37% | 10.64% | 10.44% | 10.85% | 11.08% | 10.50% | 10.75% | 10.00% | 10.61% |
| Georgia | 0.06% | 0.07% | 0.06% | 0.06% | 0.06% | 0.06% | 0.06% | 0.06% | 0.70% | 0.98% | 1.00% | 0.99% | 0.36% |
| Guam | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Hawaii | 0.98% | 1.01% | 0.98% | 0.99% | 0.98% | 0.69% | 0.46% | 0.46% | 0.46% | 0.45% | 0.45% | 0.45% | 0.69% |
| Idaho | 0.40% | 0.41% | 0.41% | 0.40% | 0.40% | 0.41% | 0.40% | 0.40% | 0.39% | 0.39% | 0.39% | 0.39% | 0.40% |
| Illinois | 8.67% | 8.81% | 8.94% | 9.14% | 9.08% | 9.16% | 9.14% | 9.22% | 8.65% | 8.77% | 8.72% | 8.71% | 8.91% |
| Indiana | 7.60% | 7.30% | 7.23% | 7.22% | 7.24% | 7.02% | 6.84% | 6.33% | 6.01% | 5.97% | 5.94% | 6.00% | 6.71% |
| Iowa | 1.76% | 1.78% | 1.76% | 1.89% | 2.09% | 2.13% | 2.08% | 2.08% | 2.04% | 2.02% | 2.02% | 2.01% | 1.97% |
| Kansas | 1.31% | 1.33% | 1.31% | 1.31% | 1.31% | 1.60% | 1.72% | 1.82% | 1.77% | 1.51% | 1.51% | 1.50% | 1.50% |
| Kentucky | 1.09% | 1.10% | 1.10% | 1.09% | 1.09% | 1.11% | 1.07% | 1.07% | 1.05% | 1.04% | 1.04% | 1.03% | 1.07% |
| Louisiana | 1.69% | 1.72% | 1.79% | 2.08% | 2.09% | 1.90% | 1.86% | 1.86% | 2.06% | 1.79% | 1.92% | 2.56% | 1.95% |
| Maine | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Maryland | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Massachusetts | 0.34% | 0.34% | 0.34% | 0.34% | 0.34% | 0.34% | 0.33% | 0.88% | 0.86% | 0.32% | 0.32% | 0.32% | 0.42% |
| Michigan | 1.42% | 1.48% | 1.43% | 1.43% | 1.42% | 1.45% | 1.56% | 2.16% | 2.17% | 2.24% | 2.80% | 2.63% | 1.86% |
| Minnesota | 1.46% | 1.48% | 1.46% | 1.46% | 1.46% | 1.48% | 0.81% | 0.77% | 0.76% | 0.75% | 0.75% | 0.74% | 1.11% |
| Mississippi | 0.81% | 0.82% | 0.81% | 0.81% | 0.81% | 0.82% | 0.80% | 1.03% | 1.17% | 1.24% | 1.79% | 2.00% | 1.08% |
| Missouri | 0.82% | 0.83% | 0.79% | 0.80% | 0.80% | 1.00% | 1.21% | 1.37% | 1.40% | 2.07% | 1.66% | 1.45% | 1.19% |
| Montana | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.02% | 0.13% | 0.15% | 0.26% | 0.26% | 0.26% | 0.26% | 0.11% |
| Nebraska | 0.18% | 0.18% | 0.18% | 0.18% | 0.18% | 0.18% | 0.18% | 0.18% | 0.18% | 0.17% | 0.18% | 0.17% | 0.18% |
| Nevada | 0.96% | 0.92% | 0.96% | 0.94% | 0.96% | 0.95% | 1.24% | 0.96% | 0.92% | 0.93% | 0.91% | 0.92% | 0.96% |
| New Hampshire | 1.31% | 1.26% | 1.31% | 1.29% | 1.31% | 1.38% | 1.41% | 1.42% | 1.57% | 1.57% | 1.54% | 1.64% | 1.42% |
| New Jersey | 0.29% | 0.30% | 0.29% | 0.29% | 0.29% | 0.58% | 0.29% | 0.29% | 0.29% | 0.30% | 0.42% | 0.27% | 0.33% |
| New Mexico | 1.35% | 1.21% | 0.99% | 1.07% | 1.41% | 1.27% | 1.07% | 1.14% | 1.26% | 0.97% | 1.56% | 1.52% | 1.24% |
| New York | 2.02% | 1.41% | 1.64% | 1.48% | 1.47% | 1.95% | 1.73% | 1.32% | 0.87% | 0.78% | 0.85% | 0.78% | 1.35% |
| North Carolina | 0.43% | 0.44% | 0.44% | 0.44% | 0.43% | 0.46% | 0.71% | 0.76% | 1.10% | 1.08% | 1.07% | 1.07% | 0.71% |
| North Dakota | 0.32% | 0.32% | 0.32% | 0.32% | 0.32% | 0.32% | 0.27% | 0.27% | 0.43% | 0.46% | 0.46% | 0.46% | 0.36% |
| Ohio | 2.48% | 2.54% | 2.48% | 2.49% | 2.46% | 2.50% | 2.43% | 2.43% | 2.39% | 2.45% | 2.76% | 2.73% | 2.51% |
| Oklahoma | 3.62% | 3.62% | 3.62% | 3.61% | 3.62% | 1.41% | 2.71% | 2.33% | 2.17% | 2.13% | 2.31% | 2.32% | 2.78% |
| Oregon | 0.32% | 0.33% | 0.32% | 0.33% | 0.51% | 0.50% | 0.53% | 0.54% | 0.52% | 0.51% | 0.51% | 0.51% | 0.45% |
| Pennsylvania | 2.18% | 2.17% | 2.19% | 2.15% | 2.04% | 2.05% | 1.96% | 1.87% | 1.57% | 1.56% | 1.47% | 1.67% | 1.90% |
| Puerto Rico | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Rhode Island | 0.69% | 0.70% | 0.69% | 0.69% | 0.69% | 0.70% | 0.68% | 0.68% | 0.67% | 0.66% | 0.66% | 0.66% | 0.68% |
| South Carolina | 2.82% | 3.36% | 3.37% | 3.37% | 3.36% | 3.56% | 3.80% | 3.98% | 5.32% | 5.57% | 3.96% | 3.88% | 3.87% |
| South Dakota | 0.00% | 0.00% | 0.01% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Tennessee | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% | 0.41% | 0.40% | 1.13% | 1.62% | 2.32% | 2.31% | 2.24% | 1.05% |
| Texas | 16.65% | 16.46% | 16.79% | 16.44% | 16.60% | 17.09% | 16.82% | 17.01% | 16.63% | 16.66% | 16.39% | 16.39% | 16.66% |
| US Virgin Islands | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Utah | 0.83% | 0.85% | 0.83% | 0.83% | 0.83% | 0.85% | 0.82% | 0.68% | 0.64% | 0.63% | 0.63% | 0.63% | 0.75% |
| Vermont | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Virginia | 2.58% | 2.58% | 2.55% | 2.55% | 2.55% | 2.59% | 2.53% | 2.53% | 2.51% | 2.45% | 2.45% | 2.44% | 2.53% |
| Washington | 4.72% | 4.78% | 4.73% | 4.70% | 4.60% | 4.72% | 4.91% | 4.15% | 3.64% | 3.60% | 3.59% | 3.58% | 4.30% |
| West Virgina | 0.29% | 0.29% | 0.29% | 0.29% | 0.29% | 0.30% | 0.29% | 0.29% | 0.28% | 0.28% | 0.28% | 0.28% | 0.29% |
| Wisconsin | 1.08% | 1.11% | 1.08% | 1.09% | 1.08% | 0.94% | 0.71% | 0.71% | 0.72% | 1.12% | 0.69% | 0.69% | 0.92% |
| Wyoming | 0.39% | 0.19% | 0.05% | 0.07% | 0.13% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.07% |
| Non State Tax Exempt | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Total | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% |
Investments in the Fund carry risks including possible loss of principal. As with direct bond ownership, funds that invest in bonds are subject to certain risks including interest-rate risk, credit risk, and inflation risk. The principal value of bond funds will fluctuate relative to changes in interest rates; decreasing when interest rates rise. Unlike bonds, bond funds have ongoing fees and expenses. Investments in the Fund are not FDIC insured, nor are they deposits of or guaranteed by a bank or any other entity.
Carefully consider the Fund’s investment objectives, risks, sales charges, and expenses; these are found in the prospectus, which is available from your financial advisor or from our download library. Read it carefully before you invest or send money.
