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1
Using a stand mixer fitted with a dough hook, place water, sugar, salt, egg, butter, evaporated milk, flour and yeast in the bowl. Beat until smooth. Remove dough from bowl and turn out onto a lightly-oiled surface. Form dough into an oval, place in a lightly-greased bowl, cover with plastic wrap, and refrigerate until well chilled (3 to 4 hours) or overnight. If you do not have a mixer, mix everything in a food processor or with a paddle attachment on a hand mixer (not the whisk attachments).
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2
Remove the prepared dough from the refrigerator and roll out on a lightly-floured board to 1/2-inch thickness. Using a sharp knife, cut dough into approximately 3-inch squares, triangles, or circles (your choice); set aside.
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3
In a deep fryer or large pot, heat 2 inches of vegetable oil to 360 F.
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4
Slide the dough pieces slowly into the hot oil and fry the beignets no more than 3 at a time approximately 2 to 3 minutes or until they are puffed and golden brown on both sides; turning them in the oil with tongs once or twice to get them evenly brown. Remove the cooked beignets to a paper towel lined plate and repeat with the remaining batter.
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5
While the beignets are still warm, sprinkle heavily with powdered sugar.
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6
Serve while still warm.
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7
Makes approximately 18 to 24 beignets.