Beat butter and sugar in the bowl of a stand mixer fitted with the paddle attachment on high speed 2 to 3 minutes or until light and fluffy.
Beat in egg and vanilla until combined. Beat in baking soda, baking powder, and salt until combined.
With the mixer running on low speed, gradually beat in flour until just combined.
Cover bowl with plastic wrap and chill at least 30 minutes or up to 3 days.
Preheat oven to 350°F. Line 2 baking sheets with parchment paper. Add sprinkles to a small shallow bowl.
Scoop dough into Tbsp-sized balls and roll dough between hands to create balls. Roll dough balls in sprinkles and place 2 inches apart on prepared baking sheets.
Bake 10 to 12 minutes or until cookies are no longer glossy on tops; do not let them brown around the edges - they will be overbaked!