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Preheat oven to 425°F. Spray doughnut pan with vegetable cooking spray.
In large bowl, sift together flour, sugar, baking powder, nutmeg and salt. Add buttermilk, eggs and butter. Beat until just combined. Fill each pan cavity approximately 2/3 full.
Bake 7-9 minutes or until the tops of the donuts spring back when touched. Let cool in pan 4-5 minutes before removing. Finish donuts with chocolate or vanilla glaze, or cinnamon sugar. Donuts are best served fresh.