Petty Theft: The act of taking and carrying away the property of another, valued at under $5,000, without the intention to purchase, and without the use of a firearm.
Possession of Stolen Property: The act of acquiring goods with the knowledge that they have been stolen, extorted, embezzled, or unlawfully taken in any manner.
The offense of Petty Theft is considered a misdemeanor and is punishable by up to $5,000 and 60 months imprisonment.