Step 1

Remove dough from refrigerator and knead on well floured surface until smooth*** (see notes below for alternative).  Roll dough out until it is about 1/2-inch thick.  Cut dough with donut cutter dipped in flour.  Place donuts and holes on baking sheet lined with parchment paper that's been sprayed with nonstick cooking spray.  Cover with plastic wrap and let rise in warm, draft-free area until about doubled in size.

Step 2

When donuts are almost completely risen, heat oil in deep fryer or large heavy duty dutch oven to 350 degrees.  Carefully lower donuts, only a couple at a time, into fryer using spider (slotted draining utensil) and fry about 1-2 minutes on each side.

Step 3

Remove from oil and place onto cooling rack set over a baking sheet or over a piece of waxed paper to catch drippings.  Dunk each donut into glaze and place on cooling rack to set glaze.

Step 4

In the microwave, melt butter with milk in small glass measuring cup on half power.  Slowly pour into bowl of powdered sugar, whisking constantly until pourable consistency.  You may need to add a little more milk to loosen if necessary.