Petit theft is a theft of less than $300 and is a misdemeanor unless you have more than two priors.
Grand Theft is a theft of more than $300 and is a felony, the degree of which is determined by the value of the items allegedly stolen.
Shoplifting and retail theft are variations that often will spur a civil lawsuit as well.
Fraud, forgery and worthless check charges are also commonly included in these cases.
Dealing in Stolen Property is a Second Degree Felony that can land you up to 15 years in prison. It is common to be charged with both a theft and a dealing in stolen property. However, you can only be convicted of one or the other as double jepordy laws do not allow a conviction for both.
A theft charge is considered a crime of dishonesty. A conviction will change the way that employers view you, and can impact how judges view your credability in future cases or testimony. It can also affect your legal residency or application for citizenship if you are not a U.S. Citizen.