In a large bowl, mix flour, sugar, baking powder, salt, and nutmeg.
In another bowl, whisk together milk, eggs, and melted butter.
Combine the wet and dry ingredients until just mixed.
Heat vegetable oil in a deep fryer or large pot to 375°F (190°C).
Roll out the dough on a floured surface to about 1/2 inch thick.
Use a donut cutter to shape the donuts.
Carefully place donuts in the hot oil, a few at a time.
Fry for about 1-2 minutes on each side until golden brown.
Remove and drain on paper towels.
Dip in your favorite glaze or toppings while still warm.