The Emergency Brake System has nothing to do with the fluid reservoir. If it is indeed the emergency brake you prob just need to adjust the switch that is prob somewhere on the actuator handle in the cab. And anyway at least if its a pre tacoma i dont think we have low brake fluid warning lights unless you have rear abs, then it might.
For clarity, that's the brake lamp on, not the parking brake itself.The parking brake switch and master cyl fluid reservoir cap are both tied to the parking brake light. First check your fluid level and make sure the float is working correctly and not stuck or sunk.
Check your parking brake switch next.
The charging system is also tied into the parking brake light. If your charging light is on (or analog gauge reads low) and the parking brake is on at the same time, then you have a charging system problem.