Sift the flour, baking powder, baking soda, and salt together in a medium mixing bowl and set aside.
In a stand mixer or large mixing bowl add the butter, shortening, and sour cream (all at room temperature) and cream together until nice and smooth. This will take about 4-5 minutes. Add the sugar, egg, and extracts and mix until combined.
Add dry ingredients to the wet ingredients in 3 batches, mixing in completely after each addition.
Form a loose ball with the dough and place it in a covered bowl in the fridge for an hour.
Preheat the oven to 400°F and line your baking sheets with a silicone mat or parchment paper.
Once the dough has chilled, scoop out ¼ cup of the dough and form a ball with your hands. Place the ball on the baking sheet and repeat until the sheet is full (you will probably only be able to fit 6 balls).
Dip a heavy bottom glass or measuring cup in the powdered sugar to coat the bottom. This will keep the glass from sticking to the dough. Flatten each ball until it's about ½ in thick, gently rotating the glass in a circle.
Bake the cookies one pan at a time for 10 minutes. The cookies will spread and puff up a little but won't turn brown, so be careful not to overbake them.
Remove the cookies from the oven and allow them to cool on the pan for 5 minutes before placing them on a cooling rack to cool completely.