Misdemeanors are less serious crimes with less severe punishments. In federal law, a misdemeanor is any crime punishable by less than 365 days in jail. Felonies, on the other hand, are more serious crimes, which are punishable by one year or more in state prison. It is important to note that a felony conviction does not have to result in incarceration. The punishment must simply be an option for a judge to impose.