Heat oven to 350°F.
Grease two cake pans well.
Mix flour, baking soda, cinnamon, salt together.
Add nutmeg to flour mixture.
Beat oil and eggs together.
Add sugar to oil mixture slowly.
Mix dry ingredients into wet ingredients.
Stir in grated carrots and nuts.
Pour batter into prepared pans equally.
Bake for 40-45 minutes until done.
Cool cakes completely on wire racks.
Beat cream cheese and butter until fluffy.
Add powdered sugar, vanilla, and salt.
Frost the cooled cake layers.