Preheat your oven to 350℉. Then line a 12-cup muffin pan with cupcake liners and set aside.
In a large bowl, add the dry ingredients (flour, sugars, baking soda and powder, salt, nutmeg, and cinnamon). Stir them together so they are evenly blended (a whisk works well for this).
Next, add the vegetable oil and mix using a wire whisk, electric hand mixer, or stand mixer. Then add the eggs one at a time, beating thoroughly after each addition.
Stir in the vanilla and milk, then add the grated carrots (and nuts and raisins, if you're using them). Mix till well incorporated.
Once your batter is done, divide it evenly among the 12 cups in the muffin pan. Then place the pan in the preheated oven for about 20 minutes.
The cupcakes are done when a toothpick inserted in the center comes out clean. Since oven cooking times can vary, check your cupcakes at the 15-minute mark to see how they're doing.
When the cupcakes are done, remove the pan from the oven and let it cool for about 10 minutes. Then remove the cupcakes to a wire rack to cool completely.
Once your cupcakes have cooled, frost with cream cheese frosting.