In a large bowl, combine the buttermilk, salt, black pepper, garlic powder, onion powder, paprika, and cayenne pepper. Add the chicken pieces, ensuring they are fully submerged. Cover and refrigerate for at least 4 hours, or overnight for best results.
In a large, shallow dish, add the flour. Remove the chicken from the buttermilk mixture, allowing excess to drip off, then dredge each piece in the flour, coating thoroughly. Shake off any excess flour.
In a large skillet or deep fryer, heat about 2 inches of vegetable oil to 350°F. Carefully add the chicken pieces in batches, being cautious not to overcrowd the pan. Fry for about 12-15 minutes per side, or until the chicken is golden brown and cooked through (internal temperature should reach 165°F).
Once cooked, transfer the chicken to a wire rack or paper towels to drain excess oil. Let it rest for a few minutes before serving.
Serve hot with your favorite sides like coleslaw, biscuits, or mashed potatoes.