What is the difference between larceny and theft?

The difference between larceny and theft is that larceny is the wrongful taking of tangible property while theft includes the theft and use of intellectual and intangible property. Both acts are considered crimes and are punishable by law in all states.

Many states recognize different levels of theft and larceny that have different corresponding punishments. These levels are often referred to as "grand" and "petty." The level in which the crime falls is determined by the value of what was stolen. Grand theft and grand larceny are the greater of the two levels and are often associated with stiffer penalties.