I use Permatex 59214 "High Temperature" thread sealant. No reason for the "high temperature", it's what was available at my local O'Reilly when I went looking. I let it set up for 24 hours before refilling the fuel tank. I've used it several times with good success.
It's not the same stuff as Permatex #2. For one, it's white not black, and secondly it's a lot thinner. I don't think Permatex #2 has Teflon in it, which is desirable to prevent galling when fitting dissimilar metals (the tank is steel, the valve is brass).
A word to the wise - I have not yet found a thread sealant that lists compatibility with gasoline. Lots with oil, several with diesel (including the #59214), some for use on "fuel systems" but none that specifically state OK with gasoline, especially the alcohol-infused crap we have to buy in the People's Republic of California. But the #59214 seems to work for me in the tapered fitting on the bottom of the fuel tank.
JayJay