Place oven rack in spot just under center position (allows for the tall pan to hover around the center. Preheat oven to 350-F.
Grease and lightly flour a bundt pan.
In a large bowl, mix sugar, milk, oil, eggs, and vanilla until smooth (or use paddle attachment in a stand mixer).
Place a sieve over the bowl and add all dry ingredients; sift into the bowl.
Mix together on medium speed until well combined.
Reduce speed and add boiling water until well combined (the batter will be thin).
Pour into prepared bundt pan. Tap pan on counter to release air bubbles.
Bake for about 40 minutes, or until the top of the cake bounces back when touched. A skewer inserted into the center should come out with a few crumbs attached.
Remove from the oven and allow to cool for about 10-15 minutes. Then, remove from the pan and cool completely.
If using frosting, allow cake to cool completely. If using glaze, apply while warm.
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