Mix together the sugar, oil and eggs in a large bowl. In another bowl sift together flour, salt, baking powder, baking soda and cinnamon. Add the flour mixture to first mixture and combine. Then add carrots and stir in gently. Pour into a greased and floured pan (bundt, sheet cake, 9 x 13 pyrex) and bake at 350F until cooked through, 25 minutes (sheet cake) to 50 minutes (Bundt pan), depending on the pan you use.
Cool completely before frosting.
For the frosting
In larger bowl, cream butter and cream cheese. Add sugar and vanilla and blend together very well until creamy, then mix in the nuts. Spread on cooled carrot cake. Enjoy!