In a large mixing bowl or using a stand mixer, combine all-purpose flour, sugar, yeast, evaporated milk, eggs, and salt. Mix until a shaggy dough forms, then knead for 8-10 minutes until smooth and slightly sticky.

Transfer the kneaded dough to a lightly greased bowl, cover it, and place in a warm area to rise until doubled in size, about 1-2 hours.

Punch the dough down gently, then turn it out onto a floured surface and roll it out to a thickness of about 1/4 inch. Cut into equal squares, roughly 2-3 inches on each side.

Loosely cover the cut squares and let them rise again for about 30 minutes.

In a deep pot, heat neutral oil over medium heat until it reaches 350°F (175°C). Carefully drop the risen dough squares into the hot oil, frying each side for about 1-2 minutes, or until golden brown.

Remove the beignets from the oil with a slotted spoon and drain on paper towels. While warm, dust them generously with powdered sugar and serve right away.