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Combine flour, baking powder, baking soda and salt in medium bowl; set aside.
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Add butter, sugar and brown sugar to a large mixing bowl or stand mixer and beat well until creamed together.
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Add egg and vanilla and mix until combined.
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Gradually mix in the flour and mix until combined.
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Stir in chocolate chips and m&m’s.
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Scoop dough into large balls (about 3 Tablespoons) and place on prepared baking sheet about 2 inches apart.
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Bake for 8 to 10 minutes or until light golden brown around the edges (Do not over bake.)
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Let stand 1 minute on cookie sheet, then transfer to cooling rack to cool completely