Carrot Cupcakes with Molasses Cream Cheese Icing

1 1/2 cups all-purpose flour

1 teaspoon baking soda

1/4 teaspoon salt

1 1/2 teaspoons cinnamon

1/2 teaspoon freshly grated nutmeg

3/4 cup vegetable oil

1 cup firmly packed light brown sugar

2 large egg s

1/2 teaspoon vanilla

1 3/4 cups finely shredded carrot s (about 4)

1/3 cup walnut s, chopped fine, toasted lightly, and cooled

1/2 cup sweetened flaked coconut , toasted lightly and cooled For icing

1/2 cup (about 4 ounces) cream cheese, softened

1/2 stick ( 1/4 cup) unsalted butter , softened

1 tablespoon unsulfured molasses

2 tablespoons confectioners' sugar