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Theft, sometimes known as larceny, is the taking of something that doesn't
belong to you, without the consent of the owner. The crime requires the
intent to permanently deprive the owner of his property, and the thief must
carry the property away, which is satisfied even if he simply exercises
control over it. Common theft crimes include grand and petty theft,
embezzlement, robbery, and receiving stolen property.

“Theft crimes range from a Class 2 misdemeanor to a Class 3 felony.
When the value is less than $500, it is a Class 2 misdemeanor. If the
value is $500 or more but less than $1000, it is a Class 1 misdemeanor. If
the value is $1000 or more but less than $20,000, it is a Class 4 felony.

The distinction between whether theft is a misdemeanor or a felony is
dependent on the value of the cash or property stolen. Many states
consider theft of up to $500 a misdemeanor and larger amounts to be a
felony. Felony theft is often referred to as larceny.

Felony theft is committed when the value of the stolen property exceeds
$1000. Regardless of the value of the item, if it is a firearm or an animal
taken for the purpose of animal fighting, then the theft is a Class 6 Felony.

In most states, thefts are classified (and charged) according to the dollar
value of the property stolen. The lowest-level theft offense under a state’s
penal code is commonly called petty (or petit) theft or larceny. The offense
is usually defined as theft of property valued at or below a certain threshold
-- that threshold can be anywhere from $50 to more than $1,000,
depending on the state.

In some states, the lowest-level theft offense is not called “petty theft” or
“petit theft”, but is referred to according to how the crime is classified (i.e.,
“Theft is a class A Misdemeanor if the value of the property stolen is less
than $500.”).
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