BlackRock New York Municipal Income Trust (the Trust) is a non-diversified, closed-end management company. The Trust's investment objective is to provide current income exempt from regular federal income tax and New York State and New York City personal income taxes. The Trust seeks to achieve its investment objective by investing primarily in municipal bonds exempt from federal income taxes and New York State and New York City personal income taxes. The Trust invests at least 80% of its assets in municipal bonds. The Trust may invest up to 20% of its total assets in municipal bonds that are rated, at the time of investment, Ba/BB or B by Moody's, S&P or Fitch. The Trust may invest directly in such securities or synthetically through the use of derivatives. The Trust's investment advisor is BlackRock Advisors, LLC, an indirect, wholly owned subsidiary of BlackRock, Inc. BlackRock Financial Management, Inc. serves as the Trust's sub-advisor.