Add flour, baking powder, baking soda, and salt to a sifter sitting over a medium size bowl. Set aside.
Add butter and sugar to a large mixing bowl, Use an electric mixer to mix the butter and sugar together for 3-5 minutes. (It should be fluffy and a pale yellow color.
Slowly add one egg at a time, beating after each addition, to the butter/sugar mixture.
Mix in the sour cream and vanilla. Beat one more time to combine all of the ingredients.
Scrape the sides and bottom of the mixing bowl with a rubber spatula. Mix again to combine all of the cake ingredients.
Reduce the mixer speed to low. Slowly begin to add in the dry ingredients.
Alternate a portion of the dry ingredients with buttermilk. Beat after each addition.
Scrape down the sides and bottom of the bowl. Use a rubber spatula to add the chocolate chips.
Stir to blend them completely in the cake batter.
Bake at 350 degrees for 28-32 minutes. (At 28 minutes, insert a toothpick in the center of the cake, check to see if the cake is done.)
When completely baked, remove from the oven, and set on a wire rack to cool completely.