Grease bundt pan with oil or fat and set aside.

Mill flour and set aside.

Shred 3 cups of carrots and crush walnuts; set aside.

Mix sugar, oil, and vanilla extract with whisk in a large bowl. Add one egg at a time and whisk until each is well incorporated.

In another bowl add the flour, baking powder, baking soda, and salt with whisk. Add the dry ingredients to the wet just combined.

Fold in shredded carrots and then the crushed walnuts until batter is uniform.

Let batter sit for 15 minutes while oven preheats to 350°F.

Pour into prepared pan.

Bake for 30-35 minutes or until lightly golden brown and beginning to separate from the edges.

Take out of oven and let cool in pan for 10-15 minutes before removing to a wire rack to cool completely.

In a stand mixer bowl or large bowl, beat cream cheese, butter, and vanilla extract together on medium speed until fluffy.

Slowly add powdered sugar and salt; mix until smooth.

Add the milk and mix until incorporated.

Spread over cooled cake.