We examined the contribution of semantics to morphological facilitation in the visual lexical decision task at two stimulus onset asynchronies (SOAs) with Serbian materials. Primes appeared in Roman or Cyrillic characters. Targets always were printed in Roman. When primes were presented at an SOA of 250 msec, decision latencies to verbal targets (e.g., volim) showed greatest facilitation after inflectionally (e.g., vole) related primes, significantly less after semanticallytransparent derived primes (e.g., zavole), and less again after semantically opaque derived primes (e.g., prevole). Latencies after semantically transparent and opaque derived target words did not differ at an SOA of 48 msec. Both were slower than after inflectionally related primes. Stated generally,effects of semantic transparency among derivationally related verb forms were evident at long SOAs, but not at short ones. Under alphabetalternating conditions, magnitudes of facilitationwere greater overall,but the pattern was similar. The outcome suggests that restrictedprocessing time for the prime limits the contribution of semantics to morphological processing and calls into question accounts that posit a task-invariant semantic criterion for morphological decomposition within the lexicon.