Preheat oven to 350 degrees. Line standard muffin tins with paper liners. Whisk together flour, cocoa, both sugars, baking soda and salt. In another bowl, whisk together milk and malted milk powder until powder is dissolved.
With an electric mixer on medium-high speed, beat flour mixture, milk mixture, and oil until combined. Add eggs, one at a time, beating until each is incorporated, scraping down sides of bowl as needed. Add sour cream and vanilla and beat until just combined.
Divide batter evenly among lined cups, filling each halfway. Bake, rotatin tins halfway through , until a cake tester inserted in centers comes out clean, about 20 minutes. Cupcakes can be stored up to 3 days at room temperature or frozen up to 2 months, in airtight containers.
To finish, use a small offset spatula to spread frosting over each cupcake. Refrigerate up to 3 days in airtight containers; bring to room temperature and, if desired, decorate with sprinkles before serving.
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