With WCK Taxonomy Creator you can create and edit custom taxonomies and attach them to post types.
IMPORTANT: The plugin Custom Taxonomy Creator will no longer be supported or updated.
Custom Taxonomy Creator is now part of WCK - Custom Fields and Custom Post Types Creator plugin, which is fully compatible. Download it and install it instead of the current plugin.
WCK Taxonomy Creator allows you to easily create and edit custom taxonomies for WordPress without any programming knowledge. It provides an UI for most of the arguments of register_taxonomy() function.