1.Preheat oven to 425 degrees, mist a doughnut pan with cooking spray and set aside.
2.In a large mixing bowl, sift together flour, sugar, baking powder, nutmeg and salt.
3.In a medium mixing bowl, combine all the wet ingredients, add to dry mixture. Using a rubber spatula, mix well making sure you dig deep down to get any dry mixture on the bottom. You can switch to a wire whisk to quickly whisk together. Let the batter rest for 3 minutes.
4.Fill each donut cavity with a small spoon about 2/3 to 3/4 full.
5.Bake 6 to 9 minutes or until the tops spring back when lightly touched. The tops will be lightly golden. Cool in pan for about 10 minutes. Flip out onto a cooling rack and let cool for another 10 to 15 minutes.
6.For the icing, in a small to medium mixing bowl, whisk the sifted powdered sugar with milk and vanilla until you have a nice smooth glaze.
7.Pour, drizzle anyway you want to cover the donuts. Have fun. Sprinkle topping right away before icing sets. Donuts are best when eaten the same day.