Petty theft is the designation for theft of property valued under $950 and in most cases is a misdemeanor charge. California Penal Code Section 484a includes the state’s definition of theft as a criminal offense and outlines the conditions for a positive theft conviction. Section 490 of the California Penal Code lists the possible punishments for petty theft as fines up to $1,000, up to six months in jail, or both. When petty theft occurs in a retail store or business, the designation may shift to shoplifting charges, covered in California Penal Code Section 459.5.