The attenuation mechanism of shock waves of arbitrary strength propagating in air has been reasonably well understood. On the other hand, very little is known about the precise mechanism of shock wave attenuation and energy dissipation in liquids. The equation of state for shock propagation in water is empirical in nature and considerable differences exist with reference to the exact value of various constants even in the cast of Tait’ s equation of state, which is popularly used by researchers to describe the shock wave propagating through water. In recent times, considerable attention is being focused by researchers on shock wave attenuation and associated features in liquid medium mainly in the backdrop of development of many innovative industrial applications of shock waves. The present study focuses on generating reliable experimental data on shock wave attenuation in liquids of different viscosity. Experiments have been performed in a conventional vertical shock tube and a modified diaphragmless shock tube to understand how shock wave of requisite strength attenuates in liquids. A new vertical shock tube was designed, fabricated and successfully tested in the laboratory as a part of this study. In this new facility shock loading experiments with liquids or any complex fluid medium can be carried out. In the present study five liquids (Water, Castor Oil, Sodium Chloride (10%NaCl aqueous solution), Kerosene and Glycerin) have been subjected to shock wave loading. Exhaustive static pressure measurements in the liquid medium have been carried out to understand the attenuation characteristics of shock waves. The validity of Taits equation state has been experimentally verified for water. Based on the experimental results modified Taits equation of state has been obtained for castor oil, sodium chloride, kerosene and glycerin. Illustrative theoretical study is also carried out to complement the experiments.