Field evidence has established that strong earthquakes can cause severe damage or even collapse of liquid storage tanks. Many tanks worldwide are built near the coast on soft soils of marginal quality. Because of the difference in stiffness between the tank (rigid), foundation (rigid) and the soil (flexible), soil-foundation-structure interaction (SFSI) has an important effect on the seismic response, often causing an elongation of the period of the impulsive mode. This elongation is likely to produce a significant change in the seismic response of the tank and will affect the loading on the structure. An issue not well understood, in the case of unanchored tanks, is uplift of the tank base that usually occurs under anything more than moderate dynamic loading. This paper presents a comparison of the loads obtained using “Appendix E of API STANDARD 650” of the American Petroleum Institute and the “Seismic Design of Storage Tanks” produced by the New Zealand Society for Earthquake Engineering. The seismic response assessed using both codes is presented for a range of tanks incorporating a range of the most relevant parameters in design. The results obtained from the analyses showed that both standards provide similar base shear and overturning moment; however, the results given for the anchorage requirement and uplift are different.