Large earthquakes in the last 25 years have caused significant damage to buildings and infrastructure, including the partial or total collapse of storage tanks in various industries. Elephant foot buckling, or local buckling at the base, is one of the main failure modes observed in these structures, and this failure mode can lead to their collapse and/or complete loss of contents. Although hydrostatic and hydrodynamic loads typically affect the seismic response of tanks, the effect of soil type on tank buckling behavior has not been widely studied or recognized. This research aims to evaluate the effect of soil type on seismic fragility of tanks by analyzing typical storage tanks used in the wine industry. The work focuses on elephant foot buckling for tanks with both unanchored and anchored bases and compares the influence of three different types of soil and two different tank geometries. The approach uses the capacity spectrum method, as opposed to the more commonly used incremental dynamic analysis, to determine a critical peak ground acceleration to cause buckling at the tank. The tanks were subjected to 21 Chilean seismic records with three different soil types and a no-soil condition. From the results a lognormal fragility curve, and its median and standard deviation, are calculated. The results indicate that unanchored tanks built softer soils exhibit poorer performance, while tanks in competent soils and rock exhibit good performance. Anchored tanks show less sensitivity to soil types than unanchored tanks. The study demonstrates the importance of considering soil-foundation-structure interaction for wine storage tanks, but the results indicate that many comparable storage structures will be similarly affected.