Site column - Managed Metadata Field

Step 1:
Create a empty element and add the following XML:

• Add a field of the type TaxonomyFieldType
• Add a field of the type Note; this field will hold the value selected of the TaxonomyField

Step 2:

This code will:

• Create a Group if it doesn’t already exists
• Create a TermSet if it doesn’t already exists
• Attach the TermStore to the site column we already made declarative