The basic premise of the paper is that the study of formal and informal processes has moved beyond the formality-informality debate. Forms which may be termed as hybrid formalities and hybrid informalities are more and more often encountered in the literature. However, these hybrid types are pretty much under construction, and they occur in a rather disparate manner. So that, there is need of a systematic approach which would conceptualize them within a broader typology. The paper advances such a typology of hybrid formalities and informalities. For the sake of conceptual unity, these are drafted in the same theoretical framework—the structuralist perspective on informal economy. Eventually, the systematization of this typology of hybrids leads to the formulation of some general findings about the manner in which sociologists relate to formality and informality in general.